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NOI Net Operating Income
NIY

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Attributes

Year Built 2022
Building Area Gross
Occupancy 100.0 %

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the ground lease interest in a brand new 2022 construction Bank of America located at the lighted intersection of Lemont Road and 75h Street (70K VPD) in Woodridge, Illinois. The subject property is leased to Bank of America, the #2 largest bank in the U.S. with an outstanding S&P investment grade “A-” credit rating. The Asset is encumbered by an absolute triple-net ground lease with expected rent commencement and Bank of America opening date in July 2022 featuring a full 15 years of term, inclusive of 10% escalations every five years and four, five-year renewal options. The property strategically located .5 miles away from Interstate-355 (140K VPD) in the center of a diverse retail shopping center corridor with prominent national retailers including Home Depot, Walmart, Best Buy, Ross Dress For Less, Kohl’s and more. This offering possesses excellent real estate fundamentals and presents the unique opportunity to acquire a brand-new construction net lease investment leased to a leading investment grade banking tenant.

Investment Highlights

  • Brand new construction Bank of America with outstanding S&P investment grade "A-" credit
  • Bank of America is the #2 largest bank in the U.S. with 4,300 retail branches and $3.17 trillion in total assets
  • The bank is currently ranked #29 in the Fortune 500 list of companies
  • Features a full 15 years of lease term remaining with expected rent commencement in July 2022
  • Includes attractive 10% escalations every five years and four, five-year options
  • Excellent demographics with 226,115 residents and AHHI of $125,050 within five-mile radius
  • Located at the lighted intersection of 75th Street and Lemont Road, with combined traffic counts of 70K VPD
  • Situated in a highly trafficked retail corridor near Walmart, Home Depot, Best Buy, Kohl's and TJ Maxx
  • Just .5 miles away from interstate-355 (140K VPD), providing convenient access throughout DuPage County
  • DuPage County location with advantages of lower sales taxes, property taxes and cost of living over Cook County
Last Updated Date: 09 Mar 2022

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Last Updated Date: 09 Mar 2022

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