Views: 11 DOM: 327 Updated: 11.29.23 Posted: 01.18.23 Status: Active


Price $6,722,222
Built/Renov 2018
Tenant Chase Bank (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,600
Lease Start 12-11-2018
#Units 4,784
Price/SF $1,867.28
Expiration 12-31-2038
Tenant Type Bank/Financial
NOI $302,500
R. Term 15.0
Ownership Ground Lease
Rent/SF $84.03
Increases 10.0%/5/yrs
Pop 5Mi 100,933
Lot/AC 0.95
Options 3/5yrs/10%
AHHI 5Mi $214,240

Lease Highlights

  • Chase Bank is original tenant: build-to-suit facility (2018)
  • The tenant has 15 years remaining in its initial term with 3 (5-year) options to extend
  • The lease features 10% rent increases every 5 years
  • Zero landlord responsibilities- Absolute NNN lease
  • Corporate guarantee by JP Morgan Chase Bank (NYSE: JPM)
  • JP Morgan Chase Bank is an investment grade tenant (S&P: A+)

Location Description

This Chase Bank is strategically located along S. Waukegan Rd. which sees an average of 17,200 VPD. The property is situated adjacent to the METRA North line that takes commuters to and from downtown Chicago. The town of Lake Forest is one of the wealthiest towns in America, boasting an AHHI of over $384,000 within one mile of this site. The site benefits from an abundance of major...



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  • Tenant: Chase Bank
  • Guarantor:Corp T and Rated
  • Company:JP Morgan 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....



  1 Miles 3 Miles 5 Miles
2028 Total Population : 3,075 28,949 108,580
2023 Total Population : 3,070 29,294 108,534
2023 Employed Civilian Pop : 1,255 13,068 52,929
2023 Total Businesses : 126 1,548 6,588
2023 Average Household Income : $ 301,131 $ 277,855 $ 222,883
2023 Total Consumer Spending : $ 275 M $ 2240 M $ 7459 M
2023 Median Age : 50 48 46
2023 Total Households : 1,120 9,851 40,370
2023 Pop Age 25+: Bachelor's Degree : 888 7,650 29,387
2023 Average Home Value : $ 1,045,466 $ 879,577 $ 673,004
*ESRI data is presented for informational purposes only


Collection Street Cross Street Year Traffic Vol Distance
S Waukegan Rd Gloucester Xing 2013 12,000 0.04 mi
S Waukegan Rd Coventry Dr 2007 21,000 0.16 mi
W Everett Rd Telegraph Rd 2011 6,850 0.16 mi
Coventry Dr S Waukegan Rd 2001 20,600 0.17 mi
S Waukegan Rd Coventry Dr 2009 16,100 0.23 mi
W Everett Rd Mar LnDr 2004 8,900 0.26 mi
S Waukegan Rd Franz Dr 2013 10,200 0.29 mi
Telegraph Rd Bridgeview Ln 2007 2,650 0.29 mi
Conway Rd Leland Ct 2011 1,900 0.31 mi
S Waukegan Rd Lynette Dr 2009 14,400 0.37 mi

Listing Broker

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