2000 Grand Ave Waukegan, IL 60085

This exceptional investment opportunity presents a 1,500 square foot, free-standing bank building located at 2000 Grand Avenue in Waukegan, Illinois. The property is currently 100% occupied by Oportun, Inc. DBA Oportun, under a Net Net (NN) lease with a corporate guarantee, offering significant financial stability. The lease commenced on November 12, 2017, and expires on November 30, 2026, with two five-year renewal options, each including a 10% rent increase. The current annual Net Operating Income (NOI) is $43,560, representing an attractive 8.00% cap rate on the $544,500 asking price. The property benefits from a prime location on the northwest corner of Grand and Westmoreland Avenues, a high-traffic retail corridor with over 20,000 vehicles passing daily, ensuring excellent visibility and accessibility. Recent renovations (within the last five years) include a new HVAC unit, building siding improvements, and parking lot/curb upgrades. Oportun, a highly-rated financial institution, boasts over $4.9 million in loans, $13 billion disbursed, and $2.2 billion saved in interest and fees, demonstrating financial strength and stability. The tenant also enjoys over 600 five-star reviews. The strong demographics of the area, with a population of 103,026 within a three-mile radius, further enhance the investment potential. This property offers a compelling combination of a strong tenant, attractive financial metrics, and a desirable location, making it an ideal addition to any investment portfolio.