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Bank

Fifth Third Bank Ground Lease | Kroger Outparcel | Chicago MSA

2501 W North Ave, Melrose Park, IL 60160

Listing Price: $4,045,000

Cap Rate
6.50%
Tenant Name
Fifth Third Bank
Years Remaining On Lease
4.2
Gross SF
4,146
Guarantor
Corporate Guarantee
Rentable SF
4,146
Price/Gross SF
$975.64
Lease Type
Ground Lease
Rent Per Square Feet
$63.40

Investment Overview

Marcus & Millichap is pleased to present a Fifth Third Bank ground lease in the Chicago MSA. This property is an outparcel to a major Kroger grocery store and fuel center. Of the 1,080 Fifth Third Bank locations, this one is the only location within 3.4 miles. It is conveniently located on the hard-corner, “main-on-main,” stoplight intersection of the submarket. The intersection of North Avenue and 25th Avenue sees more than 72,000 vehicles per day. It has unobstructed frontage along 25th Avenue and North Avenue, and is accessible from both. It is situated along a major retail corridor running to/from Downtown Chicago. It is only one mile from Winston Plaza, the destination shopping center for Melrose Park and surrounding communities. Major retailers in close proximity include Jewel-Osco, Target, Costco, Walmart, Sam’s Club, Walgreens, ALDI, Menard’s, XSport Fitness, T.J. Maxx, Cinemark, Raising Cane’s, an Amazon Distribution Center, and More. It is surrounded by a strong infill location. Over 458,000 people live within five miles, 169,000 people work within three miles, and over 10,000 students attend Triton College, which is located 1.6 miles away.

Investment Highlights

  • Standalone Fifth Third Bank Ground Lease | Four Lane Drive-Thru | The Only Fifth Third Branch Within 3.4 Miles
  • Outlot to Major Grocer | Kroger (Food 4 Less) with Fuel Center | Other Outlots Include Two Retail Strips and Advance Auto Parts
  • Hard Corner Location on the "Main-on-Main" Stoplight Intersection of the Submarket | Intersection of North Avenue and 25th Avenue | 72,350 Combined Vehicles Passing Daily
  • Long Operating History | Building was Built-to-Suit for Fifth Third Bank in 2006
  • Major Retail Corridor Running to/from Downtown Chicago | One Mile from Winston Plaza | Destination Shopping Center for Melrose Park and Surrounding Communities
  • Other Major Tenants in the Area Include Jewel-Osco, Target, Costco, Walmart, Sam's Club, Walgreens, ALDI, Menard's, XSport Fitness, T.J. Maxx, Cinemark, Raising Cane's, an Amazon Distribution Center, and More
  • Population Within One Mile is 19,657 and 458,748 People Within Five Miles
  • 1.6 Miles from Triton College | Over 10,000 Students

Exclusively Listed By

  • Austin Weisenbeck

    Senior Managing Director Investments

    (630) 570-2169

    Email Austin

    License(s): IL: 475.140200

    Chicago Oak Brook

  • Sean R. Sharko

    Senior Managing Director Investments

    (630) 570-2238

    Email Sean

    License(s): IL: 471.010712

    Chicago Oak Brook

Financing By

Bank

Fifth Third Bank Ground Lease | Kroger Outparcel | Chicago MSA

Listing Price: $4,045,000

Cap Rate
6.50%
Tenant Name
Fifth Third Bank
Years Remaining On Lease
4.2
Gross SF
4,146
Guarantor
Corporate Guarantee
Rentable SF
4,146
Price/Gross SF
$975.64
Lease Type
Ground Lease
Rent Per Square Feet
$63.40

Investment Highlights

  • Standalone Fifth Third Bank Ground Lease | Four Lane Drive-Thru | The Only Fifth Third Branch Within 3.4 Miles
  • Outlot to Major Grocer | Kroger (Food 4 Less) with Fuel Center | Other Outlots Include Two Retail Strips and Advance Auto Parts
  • Hard Corner Location on the "Main-on-Main" Stoplight Intersection of the Submarket | Intersection of North Avenue and 25th Avenue | 72,350 Combined Vehicles Passing Daily
  • Long Operating History | Building was Built-to-Suit for Fifth Third Bank in 2006
  • Major Retail Corridor Running to/from Downtown Chicago | One Mile from Winston Plaza | Destination Shopping Center for Melrose Park and Surrounding Communities
  • Other Major Tenants in the Area Include Jewel-Osco, Target, Costco, Walmart, Sam's Club, Walgreens, ALDI, Menard's, XSport Fitness, T.J. Maxx, Cinemark, Raising Cane's, an Amazon Distribution Center, and More
  • Population Within One Mile is 19,657 and 458,748 People Within Five Miles
  • 1.6 Miles from Triton College | Over 10,000 Students

Investment Overview

Marcus & Millichap is pleased to present a Fifth Third Bank ground lease in the Chicago MSA. This property is an outparcel to a major Kroger grocery store and fuel center. Of the 1,080 Fifth Third Bank locations, this one is the only location within 3.4 miles. It is conveniently located on the hard-corner, “main-on-main,” stoplight intersection of the submarket. The intersection of North Avenue and 25th Avenue sees more than 72,000 vehicles per day. It has unobstructed frontage along 25th Avenue and North Avenue, and is accessible from both. It is situated along a major retail corridor running to/from Downtown Chicago. It is only one mile from Winston Plaza, the destination shopping center for Melrose Park and surrounding communities. Major retailers in close proximity include Jewel-Osco, Target, Costco, Walmart, Sam’s Club, Walgreens, ALDI, Menard’s, XSport Fitness, T.J. Maxx, Cinemark, Raising Cane’s, an Amazon Distribution Center, and More. It is surrounded by a strong infill location. Over 458,000 people live within five miles, 169,000 people work within three miles, and over 10,000 students attend Triton College, which is located 1.6 miles away.

Exclusively Listed By

  • Austin Weisenbeck

    Senior Managing Director Investments

    (630) 570-2169

    Email Austin

    License(s): IL: 475.140200

    Chicago Oak Brook

  • Sean R. Sharko

    Senior Managing Director Investments

    (630) 570-2238

    Email Sean

    License(s): IL: 471.010712

    Chicago Oak Brook

Financing By

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