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Chase Bank | Corp Abs NNN Ground Lease 16767 Torrence Ave 4,214 SF Retail Building Lansing, IL 60438 $3,489,800 CAD ($828.14 CAD/SF) 5.50% Cap Rate

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INVESTMENT HIGHLIGHTS

Corporate Guaranteed Ground Lease | Options To Extend | Scheduled Rental Increases
Walking Distance To River Oaks Center | Primary Retail Corridor

Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
Strong Demographics In 5-Mile Trade Area

EXECUTIVE SUMMARY

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee (land ownership) in an absolute NNN leased, Chase Bank investment property located in Lansing, Illinois. The tenant, Chase Bank, has 5-years remaining on their original 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. As of June 2024, this branch has over $42MM of deposits, up from $24MM five years ago (75% Increase).

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

4,214 SF

Building Class

Year Built

2009

Price

$3,489,800 CAD

Price Per SF

$828.14 CAD

Cap Rate

5.50%

NOI

$191,939 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.40

Lot Size

0.24 AC

Zoning

B3 - General Business

Parking

45 Spaces (10.68 Spaces per 1,000 SF Leased)

Freeway Visibility

Pylon Sign

Signage

Drive Thru

Finance and Insurance
99,999 SF
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Chase Bank, officially JPMorgan Chase Bank, N.A., is the consumer and commercial banking subsidiary of JPMorgan Chase & Co., the largest bank in the United States by assets. Its origins trace back to The Manhattan Company, founded in 1799, and Chase National Bank, established in 1877. The two merged in 1955 to form Chase Manhattan Bank, which later combined with J.P. Morgan & Co. in 2000 to create JPMorgan Chase & Co. Today, Chase provides a wide range of financial services, including retail banking, credit cards, mortgages, auto loans, and business banking. Headquartered at 270 Park Avenue in New York City, JPMorgan Chase operates globally and trades publicly on the NYSE under the ticker symbol JPM. The company employs over 317,000 people and manages assets exceeding $4 trillion. [en.wikipedia.org], [en.wikipedia.org], [bing.com]