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Chase Bank (GL)
13458 South Cicero Avenue, Crestwood, IL 60445
$4,492,125
Cap Rate 4.00%
Summary
| Price $4,492,125 | Built/Renov 2006 | Tenant Chase Bank (GL) |
| Cap Rate 4.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
3,974
| Lease Start
09-04-2006
| #Units
4,784
|
| Price/SF $1,130.38 | Expiration
09-04-2036
| Tenant Type Bank/Financial |
| NOI $179,685 | R. Term 12.9 | Ownership Ground Lease |
| Rent/SF
$45.22
| Increases 10.0%/4/yrs | Pop 5Mi 277,817 |
| Lot/AC 0.88 | Options 4/5yrs/10% | AHHI 5Mi $87,527 |
| | |
Lease Highlights
- Chase Bank has been operating at this location since 2006
- Tenant has 13 years remaining in their initial lease term with 4 (5-year) options to extend
- The lease features 10% rental increases every 5 years throughout the initial term, and at the beginning of each option period
- Triple net ground lease with zero landlord responsibilities
- Deposits at this location were $139,086,000 in 2021
- JP Morgan Chase Bank is an investment grade rated tenant (S&P: A+)
Location Description
Chase Bank is strategically located at the signalized, hard corner, 4-way intersection of Cicero Avenue (44,200 VPD) and 135th Street (18,200 VPD). The subject property is in a dense retail corridor near many national/credit tenants such as Target, Kohl’s, Menard’s, AMC Theaters, Walgreens, ALDI, Dollar Tree, and many more. Restaurants in the area include Chick-Fil-A, Applebee’s, WingStop,...
...Features
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In location for years
-
High traffic 50M+ VPD
-
Major thoroughfare
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Dense 200M+ pop 5 mi
-
Top 100 MSA
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Affluent suburb location
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Absolute NNN
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Long 10+ yr lease
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Traded and rated company
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Investment grade tenant
...
Maps
Tenant
- Tenant: Chase Bank
- Guarantor:Corp T and Rated
- Company:JPMorgan Chase Bank N.A.
- # Units:4,784
- 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 : | 10,349 | 80,415 | 274,248 |
| 2022 Total Population : | 10,638 | 82,645 | 281,990 |
| 2022 Employed Civilian Pop : | 5,336 | 41,405 | 139,888 |
| 2022 Total Businesses : | 615 | 2,928 | 8,312 |
| 2022 Average Household Income : | $ 79,429 | $ 91,576 | $ 99,288 |
| 2022 Total Consumer Spending : | $ 315 M | $ 2516 M | $ 9208 M |
| 2022 Median Age : | 46 | 40 | 40 |
| 2022 Total Households : | 4,640 | 32,230 | 109,018 |
| 2022 Pop Age 25+: Bachelor's Degree : | 1,423 | 10,576 | 39,929 |
| 2022 Average Home Value : | $ 209,750 | $ 267,931 | $ 278,268 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Cicero Ave | Rivercrest Dr | 2013 | 39,100 | 0.15 mi |
| Cicero Ave | 137th St | 2013 | 44,200 | 0.30 mi |
| 135th St | Kolmar Ave | 2018 | 18,200 | 0.37 mi |
| 135th St | Le Claire Ave | 2014 | 9,700 | 0.37 mi |
| Cal Sag Rd | Kostner Ave | 2014 | 9,650 | 0.48 mi |
| West 135th Street | Kostner Ave | 2018 | 4,800 | 0.54 mi |
| Cicero Avenue | W 131st St | 2019 | 33,800 | 0.57 mi |
| Kostner Ave | 136th Ct | 2014 | 4,550 | 0.60 mi |
| S Loveland St | W 129th St | 2006 | 6,800 | 0.63 mi |
| Midlothian Tpke | Dori Ln | 2014 | 16,000 | 0.69 mi |
