Citibank

3535 North Central Avenue, Chicago, IL 60634
$2,330,000
Status Sold
Price $2,330,000
Cap Rate 4.95%
Price/SF $536
NOI $115,362
Lease Type Absolute NNN
Lease Term 10 Years
Lease Start March 2015
Lease Expiration March 2025
Building Size 4,350 SF
Lot Size 15682 AC

Overview

Situated near the intersection of North Central Avenue and West Addison Street, the branch benefits from approximately 20,000 cars passing by daily, excellent signage, one drive-thru teller lane, and one drive-thru ATM.

The site is located approximately one and one half mile west of the Kennedy Expressway, which provides direct access to downtown Chicago. The branch is in close proximity to a CVS and Subway as well as across the street from Presence Our Lady of the Resurrection Medical Center, a major medical center and award-winning hospital specializing in adult medical-surgeries and outpatient services.

The neighboring residential communities are densely populated, offering a robust customer base. The surrounding community, within a 5-mile radius, is home to nearly 1,000,000 residents with an average household income of approximately $70,000. This branch had substantial bank deposits of nearly $205 million, a testament to the long-term success at this location.