For Sale
$3,998,000

10 Huntington LnWheeling, IL 60090

High-yield NNN bank lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
124
This exceptional investment opportunity presents a 5,905 square foot, single-tenant, absolute NNN leased bank property located at 10 Huntington Ln, Wheeling, IL 60090. The property sits on a 1.5-acre lot and is currently 100% occupied by BMO Harris Bank, one of the eight largest banks in the U.S., boasting an S&P "A+" credit rating and a corporate guarantee. The lease commenced January 1, 1990, and was recently renewed, extending the term to March 31, 2034, providing a remaining lease term of approximately 9.4 years. The current annual net operating income (NOI) is $233,838, resulting in a 5.85% cap rate. The lease includes rent bumps of 10% every 5 years, ensuring consistent income growth. Built in 1990 and renovated in 2012, this property benefits from a prime location in a thriving community with strong demographics. The bank has maintained a presence at this location since January 1, 1996, and boasts $141 million in deposits. This offering is ideal for a 1031 exchange. The property's strategic location at a signalized intersection within Cook County, Illinois, further enhances its investment appeal. This is a rare opportunity to acquire a high-quality, net-leased bank investment with a long-term lease, strong tenant, and significant upside potential.

Highlights

  • High-demand BMO Bank branch in affluent Chicago MSA; one of only two within a 10-mile radius.
  • Investment-grade tenant (S&P A+ rated) with a 10-year lease extension; BMO has occupied the site since 1996.
  • Exceptional location boasting $141MM in deposits and situated within a highly desirable, affluent demographic area.
  • Top 5% net lease deal offering exceptional security and passive income.
  • High-visibility corner lot on a signalized intersection.
  • Large 1.5-acre parcel in a densely populated, infill suburban Chicago location.

Property Details for 10 Huntington Ln

Property type
Retail properties, Banks
Square Feet
5,905 SF
Year Built/Renovated
1990/2012
Buildings
1
Lot Size (sq. ft)
65,340 SF
Units
1

Location Insight

City
Wheeling
County
Cook
State
Illinois
Latitude
42.13912379342
Longitude
-87.955985787753
10 Huntington Ln, Wheeling, Illinois

FAQs

What type of property is this?
Retail property - High-yield NNN bank lease, strong tenant.
Where is the retail property located?
The property is located at 10 Huntington Ln Wheeling, IL.
What is the asking price?
The asking price for this property is $3,998,000.
What are key features of this property?
This property features: High-demand BMO Bank branch in affluent Chicago MSA; one of only two within a 10-mile radius.; Investment-grade tenant (S&P A+ rated) with a 10-year lease extension; BMO has occupied the site since 1996.; Exceptional location boasting $141MM in deposits and situated within a highly desirable, affluent demographic area.
How can I contact the broker?
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10 Huntington Ln
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