BMO Harris Bank
| Status | Sold |
|---|---|
| Price | $4,000,000 |
| Cap Rate | 4.32% |
| 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 | 30541 AC |
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.
