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Bank

Fifth Third Bank | New 15 Yr Extension | Grocery Outlot | Infill Chicago

5501 N Ashland Ave, Chicago, IL 60640

Listing Price: $5,181,818

Cap Rate
5.50%
Tenant Name
Fifth Third Bank
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
18,767
Lease Type
Ground Lease
Rent Per Square Feet
$15.19

Investment Overview

Fifth Third Bank has operated at this location since 2007 and recently negotiated a 15-year lease extension, demonstrating its long-term commitment to the site. This location ranks in the top three percent of all Fifth Third Bank branches nationwide by visits, drawing approximately 133,700 annual visitors. The lease includes a corporate guarantee, 10 percent rental increases every five years, and four five-year renewal options. Positioned at a signalized intersection with over 19,100 vehicles per day (VPD) and just 0.7 miles from a busy CTA Red Line station, the site offers exceptional visibility and accessibility. It sits as an outlot to a high-performing Jewel-Osco, which attracts 1.1 million annual visitors, and is surrounded by major national and local retailers, as well as schools. The property is located in an extremely dense and affluent neighborhood, with over 70,500 residents and an average household income of $131,467 within a 0.5-mile radius.

Investment Highlights

  • New 15-Year Extension on a Ground-Leased Fifth Third Bank | The Bank has been Operating at this Location Since 2007 | Corporately Guaranteed
  • Outlot to Jewel-Osco | Strong Surrounding Drivers
  • Ranks in the Top Three Percent of Locations Nationwide by Visits and Attracts 133,700 Annual Visitors
  • Located at a Heavily Traveled Signalized Intersection | N Ashland Avenue sees 19,100 Vehicles Per Day
  • 0.7 Miles from Bryn Mawr CTA Station | The Red Line had 21,469,067 Riders in 2024
  • Average Household Income of $131,467 Within a 0.5 Mile Radius

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 | New 15 Yr Extension | Grocery Outlot | Infill Chicago

Listing Price: $5,181,818

Cap Rate
5.50%
Tenant Name
Fifth Third Bank
Years Remaining On Lease
14.9
Guarantor
Corporate Guarantee
Rentable SF
18,767
Lease Type
Ground Lease
Rent Per Square Feet
$15.19

Investment Highlights

  • New 15-Year Extension on a Ground-Leased Fifth Third Bank | The Bank has been Operating at this Location Since 2007 | Corporately Guaranteed
  • Outlot to Jewel-Osco | Strong Surrounding Drivers
  • Ranks in the Top Three Percent of Locations Nationwide by Visits and Attracts 133,700 Annual Visitors
  • Located at a Heavily Traveled Signalized Intersection | N Ashland Avenue sees 19,100 Vehicles Per Day
  • 0.7 Miles from Bryn Mawr CTA Station | The Red Line had 21,469,067 Riders in 2024
  • Average Household Income of $131,467 Within a 0.5 Mile Radius

Investment Overview

Fifth Third Bank has operated at this location since 2007 and recently negotiated a 15-year lease extension, demonstrating its long-term commitment to the site. This location ranks in the top three percent of all Fifth Third Bank branches nationwide by visits, drawing approximately 133,700 annual visitors. The lease includes a corporate guarantee, 10 percent rental increases every five years, and four five-year renewal options. Positioned at a signalized intersection with over 19,100 vehicles per day (VPD) and just 0.7 miles from a busy CTA Red Line station, the site offers exceptional visibility and accessibility. It sits as an outlot to a high-performing Jewel-Osco, which attracts 1.1 million annual visitors, and is surrounded by major national and local retailers, as well as schools. The property is located in an extremely dense and affluent neighborhood, with over 70,500 residents and an average household income of $131,467 within a 0.5-mile radius.

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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