Chase Bank

884 S Waukegan Road, Lake Forest, IL
Deal Type:
Net Lease
Ownership Type:
Ground Lease
Price:
$7,857,142
Cap Rate:
3.50%
Current Rent:
$275,000
Lease Type:
Ground Lease
Lease Term:
20 years
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 16 years
Renewal Options:
Three, 5-year options
Building Sq. Ft.:
3,600 SF
Rent Increases:
10% every 5 years
Site Size:
41,610 SF
  • chase bank lake forest stream capital partners
  • chase bank lake forest stream capital partners
  • chase bank lake forest stream capital partners
  • chase bank lake forest stream capital partners

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
Jordan@stream-cp.com

Adam Baxter

Vice President
205 394 3520
Abaxter@stream-cp.com

Jordan Williams

Senior Associate
205 209 5671
Jwilliams@stream-cp.com

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