Chase Bank Ground Lease
Retail | 5.45% CAP | 4,307 SqFt
Marketing description
The Chase Bank Ground Lease property is located at 3950 Fountain Square Place in Waukegan, Illinois. This 4,307 square foot retail bank branch sits on 1.36 acres and was built in 2007. The property is positioned as a Walmart outparcel in a dense retail corridor surrounded by several national tenants including Walmart, Home Depot, Culver's, CVS, McDonald's, Starbucks, Taco Bell, Chipotle, and many more, creating strong co-tenancy synergies and consistent customer traffic.
The property is located across the street from American Place Casino, one of the area's newest entertainment and gaming destinations. The casino attracts a significant volume of daily visitors from throughout Northern Illinois and Southeast Wisconsin, generating strong traffic and economic activity in the immediate area and further supporting the surrounding retail corridor.
The property benefits from its location within the Chicago, IL Metropolitan Statistical Area, ranked #3 in the United States, providing access to a highly diversified regional economy, major employment centers, and a large consumer base that supports long-term retail stability.
Investment highlights
- Investment Grade Tenant - S&P Rated A+ (JPMorgan Chase Bank).
- Historically Strong Branch Deposits - 2025 Reported Branch Deposits in Excess of $163,000,000 (FDIC).
- Walmart Outparcel; Robust Retail Corridor - The Property Is Positioned in a Dense Retail Corridor Surrounded by Several National Tenants Including Walmart, Home Depot, Culver's, CVS, McDonald's, Starbucks, Taco Bell, Chipotle, and Many More, Creating Strong Co-Tenancy Synergies and Consistent Customer Traffic.
- Direct Proximity to American Place Casino - Major Regional Entertainment Destination - The Property Is Located Across the Street from American Place Casino, One of the Area's Newest Entertainment and Gaming Destinations. The Casino Attracts a Significant Volume of Daily Visitors from Throughout Northern Illinois and Southeast Wisconsin, Generating Strong Traffic and Economic Activity in the Immediate Area and Further Supporting the Surrounding Retail Corridor.
- Located within the Chicago, IL MSA - One of the Largest Economic Centers in the United States - The Property Benefits From Its Location within the Chicago, IL Metropolitan Statistical Area, Ranked #3 in the United States, Providing Access to a Highly Diversified Regional Economy, Major Employment Centers, and a Large Consumer Base That Supports Long-Term Retail Stability.
- Dense Residential Demographics Supporting Daily Consumer Demand - The Immediate Trade Area Features Strong Population Density With More Than 11,300 People Residing within 1 Mile Radius of Site and Over 67,900 People Residing within 3 Mile Radius of Site, Providing a Significant Built-In Customer Base for Retail and Service-Oriented Businesses.
- Affluent Area With Strong Household Income Levels - The Area Surrounding the Property Demonstrates Consistent Consumer Spending Power With Average Household Income Exceeding $106,000 within 1 Mile Radius of Site, Supporting Long-Term Retail Sustainability and Everyday Consumer Demand.
- Strategic Location Serving Surrounding Lake County Communities - Waukegan Serves as a Key Commercial Hub within Lake County, Drawing Consumers from Nearby Residential Neighborhoods and Supporting a Diverse Mix of Retail, Dining, and Service-Oriented Businesses.
- Long-Term Retail Stability in a Mature Urban Submarket - Positioned within a Well-Established Commercial Area in the Greater Chicago Region, the Property Benefits From Strong Infrastructure, Established Retail Demand, and Durable Investment Fundamentals.
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