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300 S Division Street - First Mid-Illinois Bank & Trust, Carterville, IL

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DetailMap
300 S Division Street - First Mid-Illinois Bank & Trust

Carterville, IL 62918

(1.4 MB)

Property Type:Retail Sub Type:Bank Status:Existing Year Built:1993
Building Size:2,602 SF Land Area:.59 AC (25,709 SF)
For Sale Price:$1,200,000 Price/SF:$461.18
Cap Rate:7.11 %
Features:Drive Thru



Sale Notes:

The Boulder Group is pleased to exclusively market for sale a single tenant First Mid-Illinois Bank & Trust property located in Southern Illinois. The bank property is strategically positioned just off of the signalized intersection of the two primary thoroughfares. There are approximately seven years remaining on the First Mid-Illinois Bank & Trust lease which expires October 31, 2022. The lease features annual rental escalations of 1.5 and zero landlord responsibilities. First Mid-Illinois Bank & Trust was first chartered in 1865 and is publicly traded with a stock symbol of NASDAQ: FMBH.
First Mid-Illinois Bank and Trust acquired twelve Old National Bank branches located throughout Southern Illinois in August 2015. The subject property was included in the transfer of branches and rebranded in August 2015 as First Mid-Illinois Bank and trust.
The 2,602 square foot building is strategically positioned just off of the signalized intersection of Division Street and Grand Avenue. Division Street is the primary north-south thoroughfare in the trade area while Grand Avenue is a primary east-west thoroughfare. The First Mid-Illinois Bank & Trust property is located approximately two miles northeast of the John A. Logan College which is part of the Illinois Community College System with approximately 7,500 students. There are over 26,000 people living within a five mile radius of the property.
There are approximately seven years remaining on the net lease which expires in October 2022. The lease features annual rental escalations and zero landlord responsibilities. The bank was first chartered in 1865 and has since grown into a more than $2 billion community-focused organization that provides financial services through a network of 46 banking centers in 33 Illinois communities. First Mid-Illinois Bank & Trust is a publicly traded company (NASDAQ: FMBH).

• Tenant is a publicly traded company (NASDAQ: FMBH) that has been in business since 1865
• Annual rental escalations
• Absolute triple net lease with no landlord responsibilities
• Tenant recently acquired this bank branch and it was rebranded
• Positioned just off of the signalized intersection of Division Street and Grand Avenue which are both the primary thoroughfares in the trade area
• Over 26,000 people living within a five mile radius
• Property features a drive-thru with three lanes

The Boulder Group
Randy Blankstein
(847) 562-0003

Jimmy Goodman
(847) 562-8500




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