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Note
Chase Bank (Ground Lease)
Listing was updated at: 08/21/2018
Property Overview
Price/Rent PSF $ 2,395,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available INQUIRE
Date Available 08/07/2018
Search Demographic Data Explore financing options
Description

The subject property is a 4,214-square foot Chase Bank located in Lansing (Chicago MSA), Illinois. Chase Bank features over thirteen years remaining on a triple net ground lease with ten percent (10%) rental increases in January 2021 and at each of the four 5-year option periods. The site features a drive-thru with four ATMs. Deposits have been increasing year-over-year since opening and has increased 18% since prior year. Chase (NYSE: JPM), a publicly traded company with an investment grade credit rating of "A+" by Standard and Poor's, has a net worth in excess of $254.19 billion and annual revenue exceeding $90.31 billion. Investment Highlights 13.5+ Years Remaining on a NNN Ground Lease Featuring 10% Rental Increases Every 5 Years throughout the Initial Term and Options - Chase (NYSE: JPM), a Publicly Traded Company with an Investment Grade Credit Rating of "A+" by Standard and Poor's, has a Net Worth in Excess of $254.19 Billion and Annual Revenue Exceeding $90.31 Billion Deposits Have Increased Year-Over Year Since Opening - Up 18% Since Last Year - Features Drive-Thru with Four ATMs Features Easy Access and Excellent Visibility Along Torrence Avenue to Daily Traffic Counts in Excess of 30,200+ Vehicles - Close Proximity to I-80/I-94 (137,500+ VPD) - Excellent Signage Enhances this Exposure Excellent Centralized Location - Within a Strong Retail Trade Corridor - Located within The Landings Plaza and Pad Site to Ultra Foods and Burlington Coat Factory -Surrounded by Numerous National and Regional Major Traffic Drawing Retailers Including Walmart, The Home Depot, Jewel-Osco, OfficeMax, Best Buy, Bed Bath & Beyond, TJ Maxx, and Many More One-Half Mile South of River Oaks Mall, a 1.2M SF Premier Shopping Destination Featuring 140 Variety Stores Including Anchors Macy's and JC Penney, Bath & Body Works, Foot Locker, FYE, LensCrafters, rue21, The Children's Place, Victoria's Secret, and More Site is Surrounded by Residential Neighborhoods, Apartment Complexes, and Near Numerous Amenities Including Hotel Establishments, Hospitals, and More Numerous Schools within a 5-Mile Radius with Strong Student Populations Including Illiana Christian High School (520+ Students), Memorial Jr High School (866+ Students), Thornton Fractional South High School (2,314+ Students), and More Densely Populated Area - Optimal Demographics with a Ponulation Over 950.000 Within 5 Miles of the Site

Location

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