Chase Bank (GL)

16767 Torrence Avenue, Lansing, IL 60438

$2,750,000

Cap Rate 5.00%

Views: 110 Updated: 03.07.24 Posted: 05.02.23 Status: Inactive

Summary

Price $2,750,000	Built/Renov 2010	Tenant Chase Bank (GL)
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 4,214	Lease Start 01-01-2010	#Units 4,784
Price/SF $652.59	Expiration 12-31-2030	Tenant Type Bank/Financial
NOI $137,500	R. Term 6.1	Ownership Ground Lease
Rent/SF $32.63	Increases 10.0%/5/yrs	Pop 5Mi 242,936
Lot/AC 0.24	Options 4/5yrs/10%	AHHI 5Mi $76,564

Lease Highlights

Chase Bank has been operating at this location since 2010 and there are over 6 years remaining on the primary lease term with 4 (5-year) options to extend
The triple net ground lease presents zero landlord responsibilities and features 10% rental escalations every five years
JP Morgan Chase Bank is an investment grade rate company (S&P: A+)
Corporate guaranteed lease

Location Description

The 4,214 square foot building is strategically located along Torrance Avenue (21,700 VPD) and within proximity to Interstate 80 (150,700 VPD). The area is a dense retail corridor that hosts tenants such as Sam’s Club, Walmart, Burlington, ALDI, Culver’s, Burger King, and many more. The property is less than a half of a mile from the River Oaks shopping center, one of the region’s largest...

...

Key Features

In location for years
Dense retail corridor
Near major nationals
Freeway close
Dense 200M+ pop 5 mi
Strong demographics
Absolute NNN
Traded and rated company
Investment grade tenant

...

Links

Chase Bank Wikipedia Chase Bank Wikipedia Lansing, Illinois Zip Code 60438 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chase Bank
Guarantor:Corp T and Rated
Company:JPMorgan Chase Bank N.A.
# Units:4,784
Tenant S&P: A+
Moody’s: A1
Stock: NYSE: JPM

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....

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,836	113,481	237,822
2023 Total Population :	6,036	115,481	241,933
2023 Employed Civilian Pop :	2,433	52,437	107,314
2023 Total Businesses :	460	3,115	6,780
2023 Average Household Income :	$ 66,192	$ 74,576	$ 74,811
2023 Total Consumer Spending :	$ 162 M	$ 2935 M	$ 6023 M
2023 Median Age :	49	39	38
2023 Total Households :	2,829	45,362	92,573
2023 Pop Age 25+: Bachelor's Degree :	783	12,114	24,923
2023 Average Home Value :	$ 283,023	$ 196,405	$ 197,902

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
US 6;IL 83		2021	22,200	0.18 mi
Torrence Avenue	Ring Rd	2019	22,100	0.20 mi
Torrence Ave	Ring Rd	2013	26,500	0.34 mi
170th St	Alley	2010	8,400	0.37 mi
167th St	River Pl	2014	12,500	0.40 mi
170th St	Exchange Ave	2018	8,800	0.51 mi
159th St	Torrence Ave	2014	18,700	0.63 mi
159th St	Torrence Ave	2013	28,500	0.65 mi
Arcadia Ave	172nd St	2014	5,650	0.66 mi
East 170th Street	Merrill Ave	2018	9,900	0.73 mi

Listing Broker

Randy Blankstein

The Boulder Group (HQ)

Contact

165 Listings
16829 Views
62 Sold

Jimmy Goodman

The Boulder Group (HQ)

Contact

168 Listings
17381 Views
65 Sold

Randy Blankstein

President of The Boulder Group, Blankstein is a senior commercial real estate executive with over 30 years of experience focused on advisory services in the single tenant net lease sector. Led The Boulder Group to a top 10 company national ranking for single tenant retail transactions by both CoStar and Real Capital Analytics from 2010-2021. Founded and managed net leased companies on both the advisory and principal sides that have been involved in over $7 billion in single tenant transaction

...

Jimmy Goodman

Goodman is a partner at The Boulder Group, with over 15 years of experience in the investment real estate sector. His career began at PricewaterhouseCoopers in 2001 and afterward, he has been solely focused on investment real estate. He has been featured in multiple publications including Globe Street, Commercial Property Executive, Real Estate Forum and was a featured speaker at Real Share’s Net Lease Conference. He is a member of the International Council of Shopping Centers and received a Ba

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT