Chase Bank

884 S Waukegan Road, Lake Forest, IL

Deal Type:

Net Lease

Ownership Type:

Ground Lease

Price:

$6,368,420

Cap Rate:

4.75%

Current Rent:

$302,500

Lease Type:

Ground Lease

Lease Term:

20 years

Landlord Responsibilities:

None

Lease Expiration Date:

Approx. 14.5+ years

Renewal Options:

Three, 5-year options

Building Sq. Ft.:

3,600 SF

Rent Increases:

10% every 5 years

Site Size:

41,610 SF

Access Offering Memorandum

Investment Highlights

Commitment – Chase signed a 20-year lease that commenced in December 2018
Rent Growth – Chase has committed to 10% rent increases every 5 years throughout the lease, providing a hedge against inflation
Location – The branch is a “must have” to serve the high net worth individuals, family offices and businesses within the community and is located adjacent to the METRA North line that takes commuters to and from downtown Chicago
Demographics – As one of the wealthiest towns in America, Lake Forest boasts average household incomes in excess of $384,000
Trade Area – Lake Forest is home to major corporations which include: Grainger, Abbott, Pfizer, Brunswick, The Chicago Bears, Tenneco, Hospira, Northwestern Medicine Lake Forest Hospital, and more.

Listing Agents

Jordan Shtulman

Managing Principal
847 226 4133
[email protected]

Adam Baxter

Vice President
205 394 3520
[email protected]

Jordan Williams

Senior Associate
205 209 5671
[email protected]

Download Offering Memorandum

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