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Charles Schwab

445 Skokie Blvd, Northbrook, IL 60062

$5,800,000

Cap Rate 7.00%

Views: 88 Updated: 07.19.24 Posted: 03.20.24 Status: Inactive 10.21.24

Summary

Price $5,800,000
Built/Renov 2008
Tenant Charles Schwab
Cap Rate 7.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 6,450
Lease Start 08-01-2008
#Units 380
Price/SF $899.22
Expiration 01-31-2029
Tenant Type Bank/Financial
NOI $405,791
R. Term 4.2
Ownership Fee Simple
Rent/SF $62.91
Increases 2.5%/1/yrs
Pop 5Mi 39,936
Lot/AC 0.87
Options 2/5yrs
AHHI 5Mi $200,011

Jordan Shtulman
STREAM Capital Partners
Contact

Lease Highlights

  • Charles Schwab has been operating in this location since 2008
  • The tenant has 4+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 2.5% annual rental escalations throughout the initial term and FMV at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Charles Schwab is strategically located on Skokie Blvd., with access to 19,900 vehicles passing by daily. Conveniently situated just off the interchange access to I-94 (122,000 VPD), providing excellent access and visibility. The property is part of an established retail corridor featuring well-known national tenants including Trader Joe’s, Nordstrom Rack, T.J. Maxx, Panera, Starbucks, and...

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Key Features

  • Signalized intersection

  • In location for years

  • Strategically located

  • Freeway visibility

  • Top 100 MSA

  • Affluent AHHI $100K 5 Mi

  • Favorable NN+ lease

  • Annual rent increases

  • Traded and rated company

  • Investment grade tenant

    • ...

Links

Charles Schwab Wikipedia Charles Schwab Wikipedia Northbrook, Illinois Zip Code 60062 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Charles Schwab
  • Guarantor:Corp T and Rated
  • Company:Charles Schwab Corporation
  • # Units:380
  • Tenant S&P: A-
  • Moody’s: A2
  • Stock: NYSE: SCHW

About Tenant

The Charles Schwab Corporation (Schwab) is an American multinational financial services company. It offers banking, commercial banking, investing, and related services including consulting, and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 3,938 54,986 148,955
2023 Total Population : 4,046 55,733 150,708
2023 Employed Civilian Pop : 2,088 27,484 74,227
2023 Total Businesses : 956 4,029 9,150
2023 Average Household Income : $ 179,596 $ 239,865 $ 228,088
2023 Total Consumer Spending : $ 239 M $ 4160 M $ 10739 M
2023 Median Age : 54 49 48
2023 Total Households : 1,600 20,949 56,855
2023 Pop Age 25+: Bachelor's Degree : 1,088 15,329 40,162
2023 Average Home Value : $ 549,903 $ 746,468 $ 717,828
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Elmwood Avenue Skokie Blvd 2018 11,800 0.05 mi
Edens Spur Hwy 41 2022 58,000 0.07 mi
US Hwy 41 I- 94 2013 69,600 0.08 mi
Skokie Highway Hwy 41 2022 108,100 0.15 mi
Skokie Boulevard I- 94 2022 16,800 0.18 mi
Edens Spur Skokie Blvd 2018 51,400 0.22 mi
I- 94 Skokie Blvd 2004 53,000 0.22 mi
Dundee Rd Midway Rd 2013 43,000 0.36 mi
I- 94 Skokie Blvd 2013 45,900 0.36 mi
US Hwy 41 I- 94 2013 69,600 0.37 mi

Listing Broker

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