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29324595
29324596

940 E Rand Rd, Mount Prospect, IL 60056

MM
IL IL 475.189943
JLL Chicago | Americas Headquarters
SK
IL 475206122
JLL - Dallas | Cedar Springs, Texas
Listed by JLL Chicago | Americas Headquarters, JLL - Dallas | Cedar Springs, Texas
$3,061,000
134 days on market
Updated 127 days ago

US Bank - Mount Prospect, IL

Details
Property Type Retail
Sub Type Bank
Square Footage 2,695
Cap Rate 5.65%
NOI $173,000
Occupancy 100%
Tenancy Single
Brand/Tenant US Bank
Lease Type Absolute NNN
Lease Expiration 02/28/2038
Remaining Term 11.7
Rent Bumps Yes
Lease Options 2 x 5-year options
Price per SqFt $1,136
Year Built 1976
Acreage 0.740
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease Yes
Ownership Ground Lease

Recently Extended US Bank | ABS NNN Ground Lease | IG Tenant With Long Term Operating History

Marketing description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to present for sale the single-tenant U.S. Bank National Association (the “Tenant”) at 940 E Rand Road, Mt. Prospect, IL (the “Property”). The Property is strategically positioned just 20 miles from downtown Chicago within the broader Chicago MSA, which has a population of 9.6 million.

The site benefits from its prime location along E Rand Road and E Central Road, which generates approximately 40,000 vehicles per day. The asset enjoys a strategic out-lot position adjacent to a Walmart Supercenter and the Mt. Prospect Plaza, an Aldi-anchored retail center featuring nationally recognized tenants including Ross, LA Fitness, Marshalls, Burlington, and Five Below. The neighboring Walmart Supercenter and Menards generate approximately 2.0 million and 1.1 million annual visitors, respectively.

Positioned within Mt. Prospect's strong retail, hospitality, and residential corridor, the property benefits from excellent demographics including 310,000 residents with an average household income of $147,000 within a 5-mile radius. This absolute NNN ground lease U.S. Bank investment opportunity offers a secure income stream backed by an investment grade Tenant with over five decades of operational success and continued revenue growth.

Investment highlights

  • Located near a highly trafficked Walmart and Menards, which collectively attract over 3.1 million visitors annually.

  • Features an attractive absolute NNN ground lease structure with 12.4 years of remaining term.

  • Supported by strong local demographics, with an average household income of $162,000 within a one-mile radius.

  • Leased to an investment-grade tenant with a strong credit rating (S&P: A).

  • Benefits from a prime location along E. Rand Road and E. Central Road, with combined traffic counts of approximately 40,000 vehicles per day.

  • Enjoys a strategic outlot position adjacent to a Walmart Supercenter and Mt. Prospect Plaza, an Aldi-anchored retail center featuring national tenants such as Ross, LA Fitness, Marshalls, Burlington, and Five Below.

Listing Contacts

MM
IL IL 475.189943
JLL Chicago | Americas Headquarters
SK
IL 475206122
JLL - Dallas | Cedar Springs, Texas
Listed by JLL Chicago | Americas Headquarters, JLL - Dallas | Cedar Springs, Texas

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$173,000.00
$14,416.67/mo

Valuation Metrics

0
DSCR
5.65%
Cap Rate
5.65%
ROI

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Additional Information

Name
Mohsin Mirza
License
IL 475.189943
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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