990 S Waukegan Rd - Bank FOR SALE


Lake Forest, IL 60045
$6,390,000 USD
312-269-0220
990 S Waukegan Rd, Lake Forest, IL for Sale
$6,390,000 USD
Bank - FOR SALE
1/1
null | 5% Cap Rate

990 S Waukegan Rd
Lake Forest, IL 60045


HIGHLIGHTS

  • Ground-leased to Fifth Third Bank with S&P BBB+ rating and corporate guarantee.
  • Zero landlord responsibilities under existing lease structure.
  • Over 16.5 years of remaining term with CPI-based rental escalations.
  • High-traffic intersection with visibility to more than 22,000 vehicles daily.
  • Located in Lake Forest, an affluent Chicago North Shore community with average household income of $213,600.

OVERVIEW

?Ground leased to Fifth Third Bank (S&P: BBB+) with a corporate guarantee featuring zero landlord responsibilities. Tenant has more than 16.5 years remaining on the initial lease term with scheduled annual rental increases (CPI Escalator). The branch features a larger-than-average footprint compared to traditional bank locations, reinforcing its importance within the market. Annual deposits at this location exceed $113 Million per year ?Fifth Third Bank has operated at this location for over 23 years, demonstrating a strong and stable presence within the market. Fifth Third Bank saw continued growth in key areas in 2025, including 13% year-over-year growth in Wealth and Asset Management revenue driven by 16% growth in assets under management, and 8% growth in commercial payments revenue ?Situated in highly sought-after Lake County, known for its tax-friendly environment and ranking as the third-largest county in Chicago MSA (714,342 population). The property is directly adjacent to the Metra North Line, a commuter train to and from downtown Chicago ?The property is strategically positioned at the signalized intersection of Waukegan Rd. and Everett Road, benefiting from excellent visibility with a combined traffic count of over 22,142 vehicles per day ?The asset is located in Lake Forest, one of the wealthiest towns in America, with over 29,325 residents and an average household income of $213,600 within a 3-mile radius of the site ?Surrounded by tenants such as; Starbucks, Jimmy John's, Lou Malnati's, Sunset Foods, True Value, Fannie May Chocolate, Everett Farms, and more

FOR SALE DETAILS

PRICE

$6,390,000 USD

PRICE/SF

$533 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,375 SF

ZONING

-

APN/PARCEL ID

16-07-200-075,16-07-200-077,16-07-200-078

ASK ABOUT THIS PROPERTY

Chad FirselQuantum Real Estate Advisors, IncMore Info
312-269-0220

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Chad FirselQuantum Real Estate Advisors, IncMore Info
312-269-0220

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.