Cicero IL US Bank 4765 W Cermak Road, Cicero, IL Cap Rate 7.15% Cicero ( Illinois, US ) Built

$3,723,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 3,055 sq. ft.
  • Development Level: Built
  • Year Built: 2005

Description

Cicero IL US Bank 4765 W Cermak Road, Cicero, IL Cap Rate 7.15%

Cap Rate: 7.15%
NOI: $266,200
Building Size: 3,055 sqft
Year Built: 2005

Price: $3,723,000 USD

DESCRIPTION
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, investment grade (S&P: AA-), drive-up ATM equipped, U.S. Bank investment property located in Cicero,Illinois (Chicago MSA). The tenant, U.S. Bank National Association, has approximately 5 years remaining in their initial term with 4 (5-year) options to extend. The lease features 10% rental increases every 5 years at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: AA-) and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. This U.S. Bank site performs well as one of the busiest locations for the brand in this area, and tenant recently added another ATM to the property - contact agent for more details. According to the FDIC, this branch has over $52 million in deposits as of June 2020.

The subject property is strategically located along W Cermak Road/W 22nd Street, a major commuter thoroughfare averaging 20,900 vehicles passing by daily. The asset benefits from excellent visibility via a large pylon sign along W Cermak Road as well as easy access via 3 separate points of ingress/egress. The site is located less than 2 miles south of the on/off ramp access to Interstate 290 (196,100 VPD) and 2.5 miles north of Interstate 55 (140,300 VPD), two primary east/west thoroughfares traveling into the heart of Downtown Chicago. U.S. Bank is ideally situated as an outparcel to Hawthorne Works Shopping Center, a 431,760 SF retail center anchored by Cermak Fresh Market, AMC Theatre, and Dollar General. Other Nearby national/credit tenants include Costco Wholesale, Walmart Supercenter, Target, The Home Depot, Ross Dress for Less, and more, significantly increasing consumer draw and crossover tenant exposure for U.S. Bank. In addition, the subject property is within close proximity to the University of Illinois at Chicago (33,390 Students), providing a direct consumer base from which to draw. The 5-mile trade area is supported by a dense population of nearly 930,000 residents and over 308,000 daytime employees with a healthy household income of nearly $74,000.

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.