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Bank

Fifth Third Bank Ground Lease

5501 N Ashland Ave, Chicago, IL 60640

Listing Price: $5,449,000

Cap Rate
7.71%
Tenant Name
Fifth Third Bank
Years Remaining On Lease
5.9
Gross SF
4,448
Guarantor
Corporate Guarantee
Rentable SF
4,448
Price/Gross SF
$1,225.04
Lease Type
NNN Ground Lease
Rent Per Square Feet
$94.43

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Fifth Third Bank Ground Lease in Chicago, Illinois. This corporately guaranteed Fifth Third Bank is in their initial 20-year ground lease with rare 12.5 percent rental increases every five years. The nation tenant has an "A-" Standard and Poor's credit rating. Located in an irreplaceable location in the Chicago neighborhood of Andersonville. The building is an outparcel to Jewel-Osco, which has been operating at this location since 1974, Chicago's number one grocer. The building has a drive-thru, adding value and flexibility to existing or future tenants. With over 300 total square feet of frontage along North Ashland Avenue and West Catalpa Avenue, this property is highly visible. Located in a dense area with a daytime population of 212,969 within two miles from property. Extremely high daytime and nighttime foot traffic with a "97" walk score, a true "walkers paradise".

Investment Highlights

  • National Tenant | Fifth Third Bank
  • Initial 20-Year Ground Lease with Just Under Six Years Remaining
  • Irreplaceable Location | Andersonville Neighborhood of Chicago
  • Drive-Thru | Adds Value and Flexibility to Existing or Future Tenancy
  • Dense, Infill Location | 15,111 People Live Within 0.5 Miles of Subject Property
  • Extremely High Daytime and Nighttime Foot Traffic | 97 Walk Score
  • Dense Area | Daytime Population of 212,969 Within Two Miles

Exclusively Listed By

Listing Price: $5,449,000

Cap Rate
7.71%
Tenant Name
Fifth Third Bank
Years Remaining On Lease
5.9
Gross SF
4,448
Guarantor
Corporate Guarantee
Rentable SF
4,448
Price/Gross SF
$1,225.04
Lease Type
NNN Ground Lease
Rent Per Square Feet
$94.43

Investment Highlights

  • National Tenant | Fifth Third Bank
  • Initial 20-Year Ground Lease with Just Under Six Years Remaining
  • Irreplaceable Location | Andersonville Neighborhood of Chicago
  • Drive-Thru | Adds Value and Flexibility to Existing or Future Tenancy
  • Dense, Infill Location | 15,111 People Live Within 0.5 Miles of Subject Property
  • Extremely High Daytime and Nighttime Foot Traffic | 97 Walk Score
  • Dense Area | Daytime Population of 212,969 Within Two Miles

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Fifth Third Bank Ground Lease in Chicago, Illinois. This corporately guaranteed Fifth Third Bank is in their initial 20-year ground lease with rare 12.5 percent rental increases every five years. The nation tenant has an "A-" Standard and Poor's credit rating. Located in an irreplaceable location in the Chicago neighborhood of Andersonville. The building is an outparcel to Jewel-Osco, which has been operating at this location since 1974, Chicago's number one grocer. The building has a drive-thru, adding value and flexibility to existing or future tenants. With over 300 total square feet of frontage along North Ashland Avenue and West Catalpa Avenue, this property is highly visible. Located in a dense area with a daytime population of 212,969 within two miles from property. Extremely high daytime and nighttime foot traffic with a "97" walk score, a true "walkers paradise".

Exclusively Listed By

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