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Bank of America | Recent Extension 251 E Maple St 5,773 SF Retail Building New Lenox, IL 60451 $7,916,068 CAD ($1,371.22 CAD/SF) 6.25% Cap Rate

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Investment Highlights

Corporately Guaranteed | Recently Exercised Option
Located Along Growing Retail Corridor | Strong Tenant Growth
Recently Renovated Interior | Modern Tenant Investment

Strategic Location Adjacent to Commuter Rail | High Daily Traffic | Regional Connectivity
Exceptional Retail Synergy | National Co-Tenants | High Visibility
Proximity to Silver Cross Hospital and the New Lenox Crossroads Sports Complex Development

Executive Summary

SRS National Net Lease Group is pleased to present the opportunity to acquire the leased fee interest (land ownership) in a NN+ (near-absolute NNN), freestanding, corporate guaranteed (NYSE: BAC), investment grade (S&P: A-) Bank of America branch property located in New Lenox, Illinois, part of the Chicago Metropolitan Statistical Area (MSA). The tenant, Bank of America, N.A., has approximately five (5) years remaining on the current lease term with four (4), five-year options to extend, reflecting the bank’s long-term commitment to the location. The lease is NN+ with the landlord responsible only for 80% of structural and capital improvements, offering near-passive income with limited management obligations. The property underwent a complete interior renovation in 2021, aligning with Bank of America’s modern branch design and enhancing long-term viability.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Bank

Building Size

5,773 SF

Building Class

Year Built/Renovated

2004/2021

Price

$7,916,068 CAD

Price Per SF

$1,371.22 CAD

Cap Rate

6.25%

NOI

$494,732 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.08

Lot Size

1.63 AC

Zoning

C1 - Commercial

Parking

52 Spaces (9.01 Spaces per 1,000 SF Leased)

Banking
Corner Lot

Dedicated Turn Lane
Freeway Visibility

Signage

Monument Signage

Finance and Insurance
99,999 SF
$9.99
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Bank of America Corporation provides various financial services including commercial banking, wealth management, and investment banking. The company originated from the 1998 merger between BankAmerica and NationsBank. Through predecessor institutions like Massachusetts Bank, chartered in 1784, and Bank of Italy, founded in 1904, Bank of America has deep historical roots in American finance. Over decades, the company expanded its national footprint through strategic acquisitions and now serves millions of consumers and businesses. Bank of America operates through multiple divisions catering to retail customers, commercial enterprises, and high-net-worth individuals while maintaining a significant presence in the global financial industry.