Chase Bank - Lombard, IL_Property for Sale

85 Yorktown Shopping Ctr, Lombard, IL, 60148-5516, US

Chase Bank - Lombard, IL

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire an NNN-Ground leased, dark Chase Bank (the “Property” or “Asset”) located in Lombard, IL in the western Chicago MSA. The Property is ideally positioned on a 0.92-acre parcel at the densely trafficked intersection of Butterfield Road and S Highland Avenue - an exit of Interstate 88 with 131,200 VPD. Although Chase Bank is not currently operating out of the Asset, there are 9.7 years of contractual rent remaining on the lease from the investment-grade tenant (A+ / Stable per S&P).

With excellent visibility and frontage along Illinois Route 56 or Butterfield Road (54,900 VPD), this property benefits from being on the hard corner of a highly trafficked retail area. The Asset is located in an outlot of Yorktown Center, a regional shopping center the features many national strong credit tenancy. The site makes for the perfect future development site with many different backfill options due to the exceptional surrounding demographics. Lombard boasts a population of over 270,000 and an average household income of $147,733 within a 5-mile radius. It is the premier retail corridor bookended by two well established Chicago suburbs.

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Attributes

Asking Price

$5,400,000

Building area Net

4,195 sf

Occupancy

100.00%

Year built

2012

Land area Net

0.92 acres (40,075 sf)

Cap Rate

7.28%

NOI

$394,000

Media

Investment highlights

NET LEASE STRUCTGURE WITH ATTRACTIVE INCREASES

The Property features 9.7 years remaining on a NNN lease structure
10.0% increases every five years creates an inflationary hedge
Zero landlord responsibilities provides investors a passive income stream

A+ RATED INVESTMENT-GRADE RENT-BACKING FROM CHASE

Chase Bank boasts an A+ / Stable (S&P) investment-grade credit rating
Attractive credit-profile allows for a defensive single-tenant investment opportunity with higher yield than a comparable Chase corporate bond

STRONG INTRINSIC REAL ESTATE & OVER 54,000 VPD

Perfectly configured 0.92-acre parcel with three access points and a 4-lane drive thru
Property has direct access to 54,000+ VPD via Butterfield Road and 131,000+ VPD via Interstate 88

IMPRESSIVE SURROUNDING DEMOGRAPHICS

There are over 271,000 residents with an average household income of $147,733 within a 5-mile radius of the property
The Property is proximate to two affluent neighborhoods, Lombard Meadows/Old Grove and Orchard Brook/Mistwood, which are more expensive than 62.7% and 79.3% of neighborhoods in the U.S., respectively