884 Waukegan Rd Lake Forest, IL 60045

This exceptional investment opportunity presents a 3,600 square foot Chase Bank located at 884 S Waukegan Rd, Lake Forest, IL 60045. The property sits on a 41,610 square foot lot and is offered at $6,368,420, representing a price per square foot of $1,769.01 and a 4.75% cap rate. The property features a single-tenant, absolute NNN ground lease with a credit-rated tenant, Chase Bank, providing significant financial stability. The lease commenced December 11, 2018, and has a remaining term of 13.1 years, expiring January 1, 2038. The lease includes built-in rent bumps of 10% every 5 years, offering protection against inflation. Additionally, there are three, five-year lease options available. The property boasts 100% occupancy since its opening date, December 11, 2018, generating a net operating income (NOI) of $302,500. This prime location in affluent Lake Forest, Illinois, adjacent to the METRA North line, serves a high net worth demographic and is near major corporations including Grainger, Abbott, Pfizer, and more. This is a rare opportunity to acquire a strong performing, long-term net lease investment in a highly desirable market.