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Views: 119 DOM: 146 Updated: 07.26.24 Posted: 06.28.24 Status: Active

Summary

Price $4,436,667
Built/Renov 2007
Tenant Chase Bank (GL)
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,000
Lease Start 12-13-2007
#Units 5,100
Price/SF $1,109.17
Expiration 12-31-2037
Tenant Type Bank/Financial
NOI $266,200
R. Term 13.1
Ownership Ground Lease
Rent/SF $66.55
Increases 10.0%/3/yrs
Pop 5Mi 206,315
Lot/AC 1.04
Options 4/5yrs/10%
AHHI 5Mi $131,833

Lease Highlights

  • Chase Bank has 13+ years remaining on the current ground lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Chase Bank is strategically located on North Janes Ave, with access to 13,028 vehicles passing daily. The property is positioned as an outparcel of the Promenade Bolingbrook, an open-air shopping, dining, and entertainment center featuring well-known national tenants such as Macy's, Bass Pro Shops, and Barnes & Noble. Additionally, it is conveniently situated less than one mile from the I-355...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank. Founded in 1877, The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000. Chase...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 9,288 69,752 198,500
2024 Total Population : 9,483 71,616 204,158
2024 Employed Civilian Pop : 5,082 39,115 111,262
2024 Total Businesses : 330 2,238 5,978
2024 Average Household Income : $ 119,249 $ 123,039 $ 138,503
2024 Total Consumer Spending : $ 378 M $ 2885 M $ 9472 M
2024 Median Age : 43 40 41
2024 Total Households : 3,660 27,018 79,299
2024 Pop Age 25+: Bachelor's Degree : 1,679 12,438 44,188
2024 Average Home Value : $ 367,788 $ 356,550 $ 404,811
*ESRI data is presented for informational purposes only

Listing Broker

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