The Boulder Group is pleased to exclusively market for sale a single tenant Chase Bank ground lease located within the Chicago MSA. The property is strategically positioned at the signalized entrance to a Walmart Supercenter, TJ Maxx and Ross Dress For Less anchored development. Chase Bank has over 16 years remaining on their ground lease which expires in November 2031. The lease features 10% rental escalations every five years and absolutely no landlord responsibilities. Chase Bank is an investment grade rated company (S&P: A) and is publicly traded on the New York Stock Exchange (JPM) with a market capitalization in excess of $251 million.
The 1.01 acre Chase Bank property is positioned along East Lincoln Highway at the signalized entrance to a Walmart Supercenter anchored development. Additional tenants in the development include TJ Maxx, Ross Dress For Less, ALDI, Petco, Mattress Firm and AutoZone. East Lincoln Highway is the primary east-west thoroughfare in the trade area and experiences traffic volumes in excess of 20,000 vehicles per day. The property is located less than two miles east from Interstate 80 which experiences traffic counts in excess of 100,000 vehicles per day. Additional retailers in the trade area include Target, Lowe’s, LA Fitness, Michael’s, Walgreens, Advance Auto Parts and many others. The surrounding area is affluent with approximately 85,000 people living within a five mile radius earning average annual household incomes in excess of $112,000. The property is further benefited by its proximity to the New Lenox Metra station which is located one-half mile west of the Chase Bank. Metra is the commuter rail division that serves the Chicago metropolitan area with over 80 million passengers per year.
There are over 16 years remaining on the Chase Bank ground lease which expires in November 2031. The ground lease features 10% rental escalations every five years and no landlord responsibilities. Chase Bank is an investment grade rated company with a Standard & Poor’s rating of A. Chase Bank is publicly traded on the New York Stock Exchange with a market capitalization in excess of $251 billion.