3950 Fountain Square Pl - Bank FOR SALE


Waukegan, IL 60085
$5,120,000 USD
631-903-7137
3950 Fountain Square Pl, Waukegan, IL for Sale
$5,120,000 USD
Bank - FOR SALE
1/3
null | 4.75% Cap Rate

3950 Fountain Square Pl
Waukegan, IL 60085


HIGHLIGHTS

  • Historically strong deposit branch, current deposits close to $165 million
  • Part of the Fountain Square Shopping Center (Walmart Supercenter, American Place Casino, etc.)
  • Very strong daytime population within the 1 to 3 miles (in excess of 69k people)
  • Walmart Supercenter Outparcel
  • Highway Exit Ramp Location Situated just before I-120 on/off ramps | Route 41 & Chicago MSA and Lake County’s Largest City | Prominent Retail Corridor
  • S&P Rated A+ Parent Company Credit | NYSE:JPM (Parent)

OVERVIEW

CBRE is pleased to present an exclusive listing for the Chase Bank located at 3950 Fountain Square Place in Waukegan Illinois. The site consists of 4,307 total square feet of building space and sits on ±1.36 acres of land. The site is subject to a 30-Year NNN Ground Lease with Chase Bank. The base rent is $243,213 and lease calls for 10% rental escalations every 5 years throughout the remaining 13 years and 3-Month term. The lease also features Four (4) Five-Year Renewal Option Periods. The subject property benefits from being located in Fountain Square Shopping Center next to the Walmart Supercenter. It’s adjacent location to the American Place Casino which is open 24/7 is a major perk. The Casino includes a 5-star boutique hotel, live event venue, and multiple bars and restaurants. Other major tenants surrounding the subject property include: Aldi, AT&T, Bank of America, Baskin Robbins, Bowlero, Buffalo Wild Wings, Chili’s, Chipotle, Courtyard Marriott, Culver’s, Denny’s, Dollar Tree, Dunkin Donuts, Gamestop, Hampton Inn, Holiday Inn Express, Jersey Mike’s, Jimmy John’s, LA Fitness, Marshall’s, McDonald’s, MOD Pizza, Panda Express, Potbelly’s, Raising Cane’s, Sally Beauty, Sports Clips, Springhill Suites Marriott, Starbucks, Tires Plus, T-Mobile, Townplace Suites Marriott and Tropical Smoothie Cafe.

FOR SALE DETAILS

PRICE

$5,120,000 USD

PRICE/SF

$1,268 USD /SF

CAP RATE

4.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Chase Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

19

LAND DETAILS

LAND ACRES

3.1 AC

LAND SF

135,036 SF

ZONING

-

APN/PARCEL ID

07-25-310-019

ASK ABOUT THIS PROPERTY

631-903-7137

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631-903-7137

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