BMO Harris Bank

4531 North Broadway Street, Chicago, IL 60640
$4,000,000
Status Sold
Price $4,000,000
Cap Rate 4.32%
Price/SF $729
NOI $172,935
Lease Type Absolute NNN
Lease Term 15 Years
Lease Start December 2015
Lease Expiration December 2030
Building Size 5,490 SF
Lot Size 30,541 SF

Overview

The property totals 5,490 square feet and benefits from its highly accessible, pedestrian-friendly location in the North Side neighborhood of Uptown. With two points of ingress/egress that opens to a 19-space parking lot with three drive-thrus, the site is afforded excellent visibility and accessibility. Because of its urban location, the local market contains an eclectic mixture of national retailers, dining establishments, and businesses. Notable big-box retailers include Target and Jewel-Osco which are situated a quarter of a mile from the branch.

The property is surrounded by a dense community of residential and commercial buildings. Within a 5-mile radius, the local area is home to more than 930,000 residents with an average household income of more than $82,000. Property values have increased dramatically due to the number of young professionals that have been moving to the area over the past decade.

The Red Line mass transit train runs through Uptown providing excellent accessibility to downtown Chicago.