Chase Bank - Lansing, IL
Retail | 6.75% CAP | 4,214 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Chase Bank at 16767 Torrence Avenue in Lansing, Illinois (“Property” or “Asset”). The Property is operating on an absolute NNN ground lease with ±4.8 years of primary lease term remaining, 10.0% rent escalations every 5 years and four, five-year options. JPMorgan Chase is the largest bank holding company in the U.S. with over $4.4 trillion in assets.
Investment highlights
Absolute NNN ground lease Chase Bank with zero landlord responsibilities
Low rent bank deal at $36 PSF with ±4.8 years of lease term remaining
Investment grade tenancy (S&P: ‘A’) with corporate JPM lease
Adjacent to the #3 most visited Sam’s Club in IL
Just off I-94/I-80 with frontage along Torrence Ave w/ 294,000+ VPD
Outparcel to the landings with 2.4M visits annually
Adjacent to River Oaks West, a top 3% most visited shopping center
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