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Bank of America | Recent Extension 251 E Maple St 5,773 SF Retail Building New Lenox, IL 60451 $7,931,869 CAD ($1,373.96 CAD/SF) 6.25% Cap Rate
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
Building Size
5,773 SF
Building Class
B
Year Built/Renovated
2004/2021
Price
$7,931,869 CAD
Price Per SF
$1,373.96 CAD
Cap Rate
6.25%
NOI
$495,720 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)
Amenities
- Banking
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Signage
- Monument Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Finance and Insurance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Bank of America began in 1784 when Massachusetts Bank became the first federally chartered US bank. The modern corporation formed in 1998 through NationsBank's acquisition of BankAmerica. Today it operates four main divisions: consumer banking, wealth management, global banking, and global markets. The company serves millions of retail clients and businesses through various financial products and maintains a significant international presence. Bank of America has grown through numerous mergers and acquisitions over its 200+ year history.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Finance and Insurance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Good public transit
60/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 15-08-15-312-025 | Improvements Assessment | $441,214 CAD |
| Land Assessment | $341,546 CAD | Total Assessment | $782,760 CAD |
Property Taxes
Parcel Number
15-08-15-312-025
Land Assessment
$341,546 CAD
Improvements Assessment
$441,214 CAD
Total Assessment
$782,760 CAD
Contacts
-
Gary Chou -
Matt Coates -
Dan Elliot -
Calvin Short -
Aron Cline -
SRS National Net Lease
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Bank of America | Recent Extension | 251 E Maple St
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