154 S Western Ave - Bank FOR SALE


Carpentersville, IL 60110- Elgin/Dundee
$2,400,000 USD
818-522-4792
154 S Western Ave, Carpentersville, IL for Sale
$2,400,000 USD
Bank - FOR SALE
1/10
null | 6.25% Cap Rate

154 S Western Ave
Carpentersville, IL 60110
Elgin/Dundee


HIGHLIGHTS

  • Huge FDIC reported deposits - over $135 million at this location
  • Absolute NNN ground lease w/10% increases every 5 years
  • Recent 10 year extension, with approximately 10.5 years now remaining
  • 9th largest bank in the United States w/Comerica merger
  • Massive redevelopment of Spring Hill Mall across the street
  • "A-" S&P Investment Grade Corporate Credit

OVERVIEW

This recently extended Fifth Third Bank sits on a primary retail corridor with other national retailers close to the site including Home Depot, Panda Express, Walgreens, McDonalds, AutoZone, Sherwin Williams and the massive redevelopment of Spring Hill Mall. Fifth Third Bank has an investment grade rating (S&P rated A-), and with its recent merger with Comerica Bank it is now the 9th largest bank in the United States. The property features an Absolute NNN ground lease, drive-thru service, and a recently extended lease (now over 10 years remaining). Landlord pays property tax and CAM and is reimbursed by the Tenant.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$626 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Fifth Third Bank Absolute NNN Ground Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Freestanding, undefined

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,768 SF

ZONING

Commercial

APN/PARCEL ID

03-22-176-061

ASK ABOUT THIS PROPERTY

818-522-4792

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818-522-4792

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