Great Investment - Bank of America Ground Lease in Chicag...

 
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Patrick Forkin

Baum Realty Group, LLC

Office Phone: 312-275-3117

Cell Phone: 312-275-3117

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Published on: Thursday, March 5, 2015 10:36:03 PM
Updated on: Thursday, March 5, 2015 10:36:03 PM
Purchase with B2B
Purchase with B2B
 Purchase with Business to Business
Quick Glance

Listing ID: CL-Illinois-40996

Status: Accepting Offers

Financing: No Financing Available

Occupancy: 100%

Year Build: 0

 

Building Size: 4,983 SqFt

Lot Size: 0 Acre

No of Stories: 1

No of Parking: 0

Business Available for Sale: No

Is Net Lease Investment: No

Property On Ground Lease: No

Building Status: Existing

 Details

Offer to Millionaire Club: No

Listing Summary: Baum Realty Group has been retained by the owner to sell the 100% fee simple interest Bank of America property located in Chicago, Illinois. This Absolute NNN freestanding Bank of America is located in the West Ridge neighborhood of Chicago and sits on a heavy traffic hard corner at Lincoln Ave (US-41) and Peterson Ave (US-14). The property is being offered free-and-clear of any existing debt.

Acquisition Option Selected: Traditional Purchase

Cap Rate (%): 4.48

Commission Split (%): 0

Complete Details


Year Build: 0

Building Size: 4,983 SqFt.

No of Stories: 1

Total Lot Area: 0.00 Acre

No of Parking: 0

No of Total Units: 1

Property Current Status: Normal Sale

Building Status: Existing

Heating and Cooling: Heating and Cooling

Building Class: Not Specified

Property on Ground Lease?: No

Net Lease Investment?: No

Business Price Included?: No

Roofing: Metal

Occupancy: 100%

Full Description


Bank of America is located at 5983 North Lincoln Avenue, at the intersection of North Lincoln Avenue (US-41) and West Peterson Avenue (US-14). The property is on a signalized hard corner with access from both Lincoln Avenue and Peterson Avenue. The building occupies 4,983 square feet of space with a total land area of approximately .25 acres. The building was built in 2008 and has access to 129 parking spacing in the shopping center. The property also has a two lane drive thru.

Additional Properties


Property Highlights
  • Anchored by Walgreens, Chipotle, & Potbelly and surrounded by Home Depot, Office Depot, Starbucks, Panera Bread, McDonald’s, and others
Features
  • There are over 14 years remaining on the primary term with three, 5-year options
  • Absolute NNN corporate ground lease
  • Rare signalized hard corner in City of Chicago
  • 14 years remaining (no early termination)
  • S&P "A" rated
  • 10% escalations every 5 years
  • Over 67,000 vehicles per day
  • Over 67,000 vehicles per day

Attached Documents


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