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3210 W Il Route 60 - Mundelein Crossings, Mundelein, IL

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3210 W Il Route 60 - Mundelein Crossings

Mundelein, IL 60060-4271 - Central Northwest Submarket

Property Type:Retail Sub Type:Bank Status:Existing Year Built:-
Building Size:4,602 SF Land Area:1.06 AC (46,213 SF)
For Sale Price:$3,509,000 Price/SF:$762.49
Cap Rate:5.00 %

Sale Notes:
Transwestern is pleased to offer for sale to qualified investors a long-term ground leased property in Mundelein, IL. The fee simple offering is 100 percent leased to Bank of America.

The lease commenced in March of 2005 and has a 20-year primary term, with five five-year tenant options to extend. Rent increases 10 percent every five years during the primary term as well as the option periods.
The subject property is located just north of IL Route 176 on the northeast quadrant of IL Route 60 and IL Route 83 within Mundelein Crossings shopping center. This regional power center was developed in 2005 and is anchored by Home Depot, Target, TJ Maxx and Staples. The property consists of 46,217 square feet of land improved with a 4,602 square foot Bank of America branch. The duration of the corporate guaranteed lease, tenant credit, area co-tenants and above average branch deposits make this property a solid long-term investment.

Bank of America is one of the world' s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,700 retail financial centers, approximately 16,100 ATMs, and award-winning online banking with 32 million active users and more than 18 million mobile users.

Paul Barile
(312) 881-7000 x1020

Marc Imrem
(312) 881-7066

Janice Sellis
(312) 881-7024

Andrew Watson
(312) 881-7065

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