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Peoples Bank 141 W Lincoln Hwy 9,410 SF Retail Building Schererville, IN 46375 $6,633,715 CAD ($704.96 CAD/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- 14 Years Remaining | 2.00% Annual Rent Increases
- 9.5 Million Person Chicago MSA | One of Hottest Growth Markets in Midwest
- Huge Deposit Base of ± $146M
- Absolute NNN | Guaranteed by Public Company
- 41,414 VPD Traffic Counts
EXECUTIVE SUMMARY
This is an absolute NNN lease with 14 years remaining, guaranteed by a publicly traded company. The Tenant is Peoples Bank, guaranteed by Finward Bancorp. Rent increases 2.00% annually and Tenant has no renewal options remaining. The lease was originally structured as a sale/leaseback to a private equity fund, so it has been written to the highest possible standards. This can be owned and managed from anywhere in the world.
PROPERTY
The Property consists of a two-story ± 6,440 SF building with an additional ± 2,970 SF basement on 1.10 acres. The first floor is used as a traditional retail banking branch. The second floor is used for office space for mortgage, commercial, and wealth management officers and support staff. The basement is used as a break room and storage area. The large lot consists of 38 parking spaces with a three-teller lane drivethru plus a freestanding ATM drive-thru. The site offers excellent visibility along Highway 30 (41,414 VPD) with easy access from a signalized intersection. There is an unobstructed monument sign on Highway 30, offering excellent curb appeal and exposure. This location has a huge deposit base of ± $146M with 41,414 vehicles passing the property daily.
TRADE AREA
Schererville is part of the 9.5 million person Chicago MSA, located only 30 miles southeast of Chicago’s CBD, on the Indiana side. This is one of the fastest growing areas of Chicago and Indiana as many Illinois residents are moving to Indiana to take advantage of lower taxes and easy commuting to Chicago via the METRA train system and numerous highways serving the Schererville area. Money Magazine recently ranked Schererville “One of the 100 Best Places to Live in the US” due to the high quality of living, low crime rates, and excellent Lake Central School System.
PROPERTY FACTS
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Finance and Insurance
-
99,999 SF
- -
-
Jan 0000
Peoples Bank has been committed to customer service and building lasting relationships since it opened more than 110 years ago. That commitment is one of the biggest reasons why they've thrived over the past century and continued to grow outside of their core markets in Northwest Indiana and into Chicagoland. Peoples Bank is a financial institution that supports people not just where they are today, but also where they want to go in the future. This commitment has grown stronger with the power of Finward Bancorp helping make Peoples Bank a financial institution that is responsive, reliable, and the best partner to help move finances forward. Headquartered in Munster, Indiana, Peoples Bank provides a wide range of consumer, business, and wealth management products along with digital banking services to the residents of Northwest Indiana and Greater Chicagoland.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Finance and Insurance | 99,999 SF | - | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 45-11-16-254-001.000-036 | Improvements Assessment | $1,903,931 CAD |
| Land Assessment | $462,347 CAD | Total Assessment | $2,366,279 CAD |
PROPERTY TAXES
Presented by
Peoples Bank | 141 W Lincoln Hwy
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