957 E Belvidere Rd - Bank FOR SALE


Grayslake, IL 60030
$5,690,200 USD
630-573-7015
957 E Belvidere Rd, Grayslake, IL for Sale
$5,690,200 USD
Bank - FOR SALE
1/8
null | 7.25% Cap Rate

957 E Belvidere Rd
Grayslake, IL 60030


HIGHLIGHTS

  • Recently Extended
  • Major Tenant Improvements
  • Strong Deposits
  • Investment Grade Tenancy
  • Absolute NNN Ground Lease
  • Strong Grocery Shadow Anchor

OVERVIEW

CBRE’s Net Lease Property Group is pleased to extend the opportunity to acquire fee simple interest in a 6,000-square-foot Absolute NNN Bank of America Ground Lease located in Grayslake, Illinois. Bank of America spent $450k in renovations before exercising their first option to renew for five years, leaving approximately 4.5 years left of term, with three, five-year options remaining. This location reports strong deposits of $81.7 million which are well above the national average. Bank of America is strategically positioned on the southwest corner of the signalized intersection of E Belvidere Road and S Atkinson Road with combined traffic counts of 24,800 vehicles per day. The site is located within Maple View Shopping Center and shadow-anchored by Jewel-Osco. Additional retailers surrounding the site include Ace Hardware, Dunkin’, Noodles & Company, Pet Supplies Plus, O’Reilly Auto Parts, AT&T, Dollar Tree, and Advance Auto Parts among others. The Property is also just west of Northwestern Medicine Hospital.

FOR SALE DETAILS

PRICE

$5,690,200 USD

PRICE/SF

$1,011 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bank of America

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

29

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,924 SF

ZONING

SBC

APN/PARCEL ID

06-35-204-006

ASK ABOUT THIS PROPERTY

630-573-7015

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630-573-7015

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