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Views: 85 DOM: 80 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 13.3
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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Listing Broker

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