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.
http://www.bouldergroup.com/NNN-Properties-For-Sale.html
