Listed by NAI Realvest - Orlando
$8,000,000
9009 Ogden Avenue
Details
APN 18-03-218-064-0000
Property Type Retail
Sub Type Bank
Square Footage 18,063
Cap Rate 5.70%
Occupancy 100%
Tenancy Single
Brand/Tenant Citibank
Lease Expiration 12/31/2034
Remaining Term 10
Rent Bumps Yes
Lease Options 2 options of 5 years each starting in 2035
Price per SqFt $443
Acreage 1.150
Zoning Commercial
Investment Type Net Lease
Tenant Credit Credit Rated
Fully Leased CitiBank Building for Sale
Marketing description
Fully Leased Citibank Building located at 9009 Ogden Avenue, Brookfield, IL 60513. This 18,063 SF retail property is offered for sale at $8,000,000. The property features a long-term national credit tenant with a recently renewed 10-year lease through 2034, a 5.7% cap rate growing to 6.7%, and 2% annual rent increases.
Investment highlights
- Long-term tenant since 1991 - just renewed with an unusually long lease term: 10 years - through 2034!
- 5.7% cap rate (current year); grows to 6.7%
- 2% annual increase on rent plus (2) 5 year renewal options - starting in 2035
- Strong guarantee - leased to a national credit tenant - 3rd largest bank holding company in US with $2+ trillion in assets; Moody's - Aa3 - stable
- Excellent parking; landmark building designed by student of Frank Lloyd Wright
- Double corner location with separate drive-thru parcel (see aerial)
- Within walking distance of Metra Brookfield and Congress Park stations
- Offering Memorandum available - contact broker
Listing Contacts
Listed by NAI Realvest - Orlando
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