✖
Chase Bank (GL)
13211 South La Grange Road, Orland Park, IL 60462
$4,991,250
Cap Rate 4.00%
Summary
| Price $4,991,250 | Built/Renov 2007 | Tenant Chase Bank (GL) |
| Cap Rate 4.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
4,330
| Lease Start
05-29-2007
| #Units
4,700
|
| Price/SF $1,152.71 | Expiration
05-29-2037
| Tenant Type Bank/Financial |
| NOI $199,650 | R. Term 13.5 | Ownership Ground Lease |
| Rent/SF
$46.11
| Increases 5.0%/10/yrs | Pop 5Mi 143,945 |
| Lot/AC 1.48 | Options 5/5yrs/10% | AHHI 5Mi $111,251 |
| | |
Lease Highlights
- Chase Bank has been operating at this location since 2007
- Tenant has 13+ years remaining in their initial lease term with 5 (5-year) options to extend
- The lease features 10% rental increases every five years
- Triple net ground lease with zero landlord responsibilities
- Deposits at this location were $231,201,000 in 2021
- JP Morgan Chase Bank is an investment grade rated tenant (S&P: A+)
Location Description
Chase Bank is strategically positioned along South La Grange Road with clear visibility and access to more than 37,600 vehicles passing by daily. The property is also within proximity to 131st Street, an east-west thoroughfare with a traffic count of 13,800 vehicles per day. The subject property is surrounded by many national/credit tenants including ALDI, DaVita Dialysis, Walgreens, Circle K,...
...Features
-
In location for years
-
Strategically located
-
Dense 100M+ pop 5 mi
-
Top 100 MSA
-
Affluent AHHI $100K 5 Mi
-
Absolute NNN
-
Long 10+ yr lease
-
Traded and rated company
-
Corporate Guarantee
-
Investment grade tenant
...
Maps
Tenant
- Tenant: Chase Bank
- Guarantor:Corp T and Rated
- Company:JPMorgan Chase Bank N.A.
- # Units:4,700
- Tenant S&P: A+
- Moody’s: A1
- Stock:NYSE: JPM
About Tenant
JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank. Founded in 1877, The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000....
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2027 Total Population : | 4,342 | 46,505 | 145,198 |
| 2022 Total Population : | 4,507 | 48,158 | 149,260 |
| 2022 Employed Civilian Pop : | 2,311 | 25,246 | 79,235 |
| 2022 Total Businesses : | 164 | 1,647 | 5,563 |
| 2022 Average Household Income : | $ 149,516 | $ 144,537 | $ 126,078 |
| 2022 Total Consumer Spending : | $ 220 M | $ 2260 M | $ 6154 M |
| 2022 Median Age : | 52 | 48 | 45 |
| 2022 Total Households : | 1,769 | 18,742 | 58,111 |
| 2022 Pop Age 25+: Bachelor's Degree : | 1,115 | 10,459 | 27,630 |
| 2022 Average Home Value : | $ 421,257 | $ 398,081 | $ 344,444 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| 131st St | Mill Rd | 2014 | 13,800 | 0.22 mi |
| 131st St | Southmoor Dr | 2014 | 8,400 | 0.32 mi |
| West 131st Street | S Mill Rd | 2018 | 12,300 | 0.37 mi |
| 135th St | Howe Dr | 2014 | 6,500 | 0.38 mi |
| 96th Ave | 135th St | 2013 | 37,600 | 0.44 mi |
| Southwest Highway | 135th St | 2019 | 14,800 | 0.55 mi |
| West 135th Street | Southwest Hwy | 2018 | 8,350 | 0.60 mi |
| Southwest Hwy | 96th Ave | 2013 | 10,150 | 0.69 mi |
| West 131st Street | Southwest Hwy | 2018 | 10,500 | 0.70 mi |
| West 131st Street | Southwest Hwy | 2018 | 10,500 | 0.70 mi |