Listed by Marcus & Millichap - Chicago Oak Brook
$4,970,000
Bank of America Ground Lease - Chicago, IL
Details
Property Type Office, Retail
Sub Type Bank
Square Footage 5,746
Cap Rate 8.5%
NOI $422,385
Occupancy 100%
Tenancy Single
Brand/Tenant Bank of America
Lease Type Absolute NNN
Lease Term 30.6
Lease Expiration 10/07/2030
Remaining Term 4.3
Rent Bumps Yes
Lease Options Five, Five Year
Price per SqFt $865
Broker Co-Op Yes
Year Built 2000
Acreage 0.970
Investment Type Net Lease
Tenant Credit Corporate Guarantee, Credit Rated
Lease Commencement 03/13/2000
Ground Lease Yes
Ownership Fee Simple
Corporate Guarantee (NYSE: BAC) | 25+ Year Operating History | 410k+ People in 5-Miles
Marketing description
Investment highlights
Investment Grade Credit – Corporate Guarantee
- Leased to Bank of America, one of the world’s largest financial institutions with investment-grade credit (S&P ‘A-’ Rating)
- With $113B+ Revenue in 2025, Bank of America ranked #17 on the 2025 Fortune 500 Index
25+ Year Operating History with Recent 5-Year Extension
- Established branch location with over 25 years of operating history
- Tenant recently exercised a 5-year lease extension, reaffirming long-term commitment to the site
Absolute NNN Ground Lease with Attractive Rental Increases
- Absolute NNN ground lease with zero landlord responsibilities whatsoever
- 15.00% rental increases every five years in base term and throughout options
Strong Deposit Counts & Five, Drive-Thru Lanes
- Strong branch customer deposits reported at $121 million as of June 2025 (FDIC)
- High-functioning branch featuring five, drive-thru lanes, a key differentiator supporting convenience and volume
Jewel-Osco, Grocery Anchored Outparcel
- Strategically positioned as an outparcel to Jewel-Osco, a dominant regional grocer
- Grocery-anchored locations historically drive consistent traffic and enhance tenant performance
Dense Retail Corridor with Strong Traffic Counts
- Located along E. 95th Street and near S. Stony Island Avenue, with traffic counts exceeding 52,000 vehicles per day
- Surrounded by national retailers including McDonald’s, Dollar Tree, Aldi, T-Mobile, and Family Dollar, reinforcing long-term retail demand
Major Nearby Developments Supporting Growth
- Located near the South Works plant redevelopment site, a multi-billion-dollar quantum computing campus anchored by The Illinois Quantum and Microelectronics Park
- Also proximate to the $250 million expansion of the Chicago State University campus
Listing Contacts
Listed by Marcus & Millichap - Chicago Oak Brook
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$422,385.00
$35,198.75/mo
Valuation Metrics
0
DSCR
8.5%
Cap Rate
8.5%
ROI
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