957 Belvidere RdGrayslake, IL 60030

Property Details for 957 Belvidere Rd

Year built

2003

Construction

BRICK

Lot size

0.97 AC

Property size (Sq ft)

5,627 SF

Property type

Banks

APN

06-35-204-006

APU

635204006

Description

This exceptional investment opportunity presents a fee-simple interest in a Bank of America ground lease located at 957 E Belvidere Rd, Grayslake, IL 60030. The property, a single-story, 6,000 square foot building constructed in 2003 and renovated in 2023, sits on a 0.965-acre lot within the Maple View Shopping Center. The lease is an Absolute NNN structure with Bank of America, a credit-rated tenant, holding a lease extending to September 30, 2028, with three 5-year renewal options at 10% rent bumps. The property boasts a strong NOI of $412,539, resulting in a 7.25% cap rate and a price per square foot of $948.37. The asking price is $5,690,200. The site benefits from high visibility at a signalized intersection with 24,800 vehicles per day, and is shadow-anchored by a high-performing Jewel-Osco. The surrounding area includes numerous national retailers and is proximate to Northwestern Medicine Hospital. The property's location within a dense, affluent area with an average household income exceeding $138,790 provides a strong and stable income stream. The Bank of America branch reports over $81.7 million in annual deposits. The property includes 29 parking spaces and is zoned SBC. This is an ideal investment for passive net lease investors seeking a secure, high-performing asset with a strong tenant and significant remaining lease term.

• CAP approach

  CAP return

  Valuation

  6%

  $1,493,552

  6.5%

  $1,378,663

  7%

  $1,280,187

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,439,603

  Geo Method

  $1,846,950

• Alternative Use

  Use

  Valuation

  Residential

  $1,162,954

  Hospitality

  $1,065,260

  Educational

  $886,284

  Medical

  $916,764

  Retail

  $1,378,663

Location Insight

City

Grayslake

County

Lake

State

Illinois

Latitude

42.3369

Longitude

-88.0245

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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