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Bank

Chase Bank

4411 211th St, Matteson, IL 60443

Listing Price: $3,700,000

Cap Rate
5.40%
Tenant Name
JPMorgan Chase Bank
Years Remaining On Lease
16.6
Gross SF
4,335
Guarantor
Corporate Guarantee
Rentable SF
4,335
Price/Gross SF
$853.52
Lease Type
Ground Lease
Rent Per Square Feet
$46.06

Investment Overview

Marcus & Millichap is pleased to exclusively market for sale the subject single-tenant Chase Bank ground lease located at 4411 211th Street in Matteson, Illinois. The property is made up of a 4,335 square-foot building and is situated on approximately one acre of land. The investment opportunity is subject to an absolute triple-net (NNN) lease which has approximately 19 years of term remaining. The current rent is $199,650 and is subject to 10 percent rental increases every five years, including through the four, five-year tenant renewal options. The lease is guaranteed by JPMorgan Chase Bank, N.A.

JPMorgan Chase & Co. is an American multinational investment bank and financial services company headquartered in New York City. JPMorgan Chase is the largest bank in the United States, and the sixth largest bank in the world by total assets: an amount equaling $2.534 trillion. It is the world's most valuable bank by market capitalization. As of 2017, the bank is one of the largest asses under management and US$30 trillion in assets under custody. At US$47.7 billion in assets under management, the hedge fund unit of JPMorgan Chase is the fourth largest hedge fund in the United States.

Investment Highlights

  • Absolute Triple-Net Ground Lease
  • 19 Years Remaining on an Original 30-Year Ground Lease
  • 10 Percent Rent Increases Every Five Years, Including Through Option Periods
  • Four. Five-Year Tenant Renewal Options
  • Corporate Guarantee (NYSE: JPM) - S&P: A
  • Current Deposits of Over $70 Million, Growing Steadily Since Opening
  • Over 164,000 People Within Five Miles

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

  • Russell Wachtler

    Licensed Real Estate Salesperson

    (212) 430-5132

    Email Russell

    License(s): NY: 40WA0949376

    Manhattan

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s) IL: 471.011175

    Illinois

Listing Price: $3,700,000

Cap Rate
5.40%
Tenant Name
JPMorgan Chase Bank
Years Remaining On Lease
16.6
Gross SF
4,335
Guarantor
Corporate Guarantee
Rentable SF
4,335
Price/Gross SF
$853.52
Lease Type
Ground Lease
Rent Per Square Feet
$46.06

Investment Highlights

  • Absolute Triple-Net Ground Lease
  • 19 Years Remaining on an Original 30-Year Ground Lease
  • 10 Percent Rent Increases Every Five Years, Including Through Option Periods
  • Four. Five-Year Tenant Renewal Options
  • Corporate Guarantee (NYSE: JPM) - S&P: A
  • Current Deposits of Over $70 Million, Growing Steadily Since Opening
  • Over 164,000 People Within Five Miles

Investment Overview

Marcus & Millichap is pleased to exclusively market for sale the subject single-tenant Chase Bank ground lease located at 4411 211th Street in Matteson, Illinois. The property is made up of a 4,335 square-foot building and is situated on approximately one acre of land. The investment opportunity is subject to an absolute triple-net (NNN) lease which has approximately 19 years of term remaining. The current rent is $199,650 and is subject to 10 percent rental increases every five years, including through the four, five-year tenant renewal options. The lease is guaranteed by JPMorgan Chase Bank, N.A.

JPMorgan Chase & Co. is an American multinational investment bank and financial services company headquartered in New York City. JPMorgan Chase is the largest bank in the United States, and the sixth largest bank in the world by total assets: an amount equaling $2.534 trillion. It is the world's most valuable bank by market capitalization. As of 2017, the bank is one of the largest asses under management and US$30 trillion in assets under custody. At US$47.7 billion in assets under management, the hedge fund unit of JPMorgan Chase is the fourth largest hedge fund in the United States.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

  • Russell Wachtler

    Licensed Real Estate Salesperson

    (212) 430-5132

    Email Russell

    License(s): NY: 40WA0949376

    Manhattan

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s): IL: 471.011175

    Illinois

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