Bank of America

  • $6.7M
20263 North Rand Road, Kildeer, IL 60074, USA

Bank of America

20263 North Rand Road, Kildeer, IL 60074, USA
  • $6.7M

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Title Property Type Price Beds Baths Property Size Availability Date
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Description

Marketing Description
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Bank of America property located within the Chicago MSA in Kildeer, Illinois. There are over 12 years remaining on the triple net ground lease and four 5-year renewal options. Additionally, there are 10% rental escalations every five years. Bank of America is an investment grade rated company S&P: A-.
The 2,327 square foot property is located at the corner of a signalized intersection along Rand Road (49,409 VPD) which is a primary north-south thoroughfare. The Bank of America is situated in a thriving retail corridor with Whole Foods, Walmart, Home Depot, Target, Menards, Nike Factory, Nordstrom Rack, Apple, Anthropologie and Dick’s Sporting Goods. There are over 200,000 people living within five miles of the property with an average household income of $129,011.
Bank of America is an outparcel of Kildeer Market Place and is adjacent to Kildeer Village Square. Kildeer Market Place and Kildeer Village square were recently constructed, 100% leased and feature Nike, Nordstrom Rack, Sierra Trading, DSW, and Art Van Furniture. The property is located in a dominant retail corridor which also features Deer Park Town Center (Apple, Anthropologie, Crate & Barrel Lululemon, Pottery Barn, and Williams-Sonoma). Deer Park Town Center is one of the most successful lifestyle centers in the Chicagoland area.

Investment Highlights
Attractive Lease Structure
Long term ground lease with over 12 years remaining
Zero landlord responsibilities
10% rental escalations every five years
Strategic Location
Located within the Chicago MSA
Positioned at the corner of a signalized intersection along Rand Road (49,409 VPD) which is a primary north-south thoroughfare
Attractive demographics
Over 200,000 people living within a five-mile radius with an average annual household income of $129,011 per year
Retailers located in the immediate area include Walmart, Home Depot, Target, Menards, Nike Factory, Nordstrom Rack, Apple, Anthropologie and Dick’s Sporting Goods
Kildeer Market Place and is adjacent to Kildeer Village Square. Kildeer Market Place and Kildeer Village square were recently constructed, 100% leased
Desirable Market
Chicago is the most populous metropolitan area in the Midwestern United States
The area is one of the world’s largest and most diversified economies, with more than four million employees and generating an annual gross regional product of over $561 billion.
The region hosts more than 400 major corporate headquarters, including 31 in the Fortune 500

Details

Updated on July 21, 2019 at 4:45 am
  • Property ID: 17428
  • Price: $6.7M
  • Property Size: 2327 sqft
  • Year Built: 2012
  • Property Type: Retail
  • Property Status: For Sale
  • Price Per/Sf: 2,866.35
  • Tenancy: Single
  • Cap Rate: 4.70%
  • Net Operating Income: 313,500

Additional details

  • Lease Type: Absolute NNN
  • Lease Expiration: 01/31/2032
  • Remaining Term: 12.5 years
  • Units: 1
  • Ground Lease: Yes
  • Address 20263 North Rand Road, Kildeer, IL 60074, USA
  • City Kildeer
  • State/county Illinois
  • Zip/Postal Code 60074

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Contact Information

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Randy Blankstein
  • Randy Blankstein
  • 847-881-6388

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Randy Blankstein
  • Randy Blankstein