Bank of America Anchored Gold Coast Retail
6.50% Cap Rate | Core Generational Asset | Signalized Intersection | 9 Years WALT
Investment highlights
Generational Asset Anchored By High-Performing Bank of America Branch Located at Signalized Intersection of State and Division on Chicago’s Gold Coast
Bank of America Has Operated Here for Over Two Decades and Recently Exercised a Renewal Option at the Option Rent Agreed to in Their Original Lease
Bank of America (Moody’s Credit Rating of “AA-”) Guarantees 45 Percent of the Property’s Total Income
High Foot Traffic Location With a 99/100 Walk Score, Two Blocks From the Clark/ Division Street ‘L’ Station
Weighted Average Lease Term of 9 Years With Three of the Four Leases Featuring Significant Annual Rent Steps
In 2023 Sola Salons Executed a 15-Year Lease for the Desirable Second Floor Space With 3 Percent Annual Increases
Staggering Demographics With 99,000 People Living Within One Mile, a Daytime Population in Excess of 200,000 People Within the Same Radius, and Average Household Incomes Over $150,000
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