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Bank of America 957 E Belvidere Rd

6,000 SF Retail Building Grayslake, IL 60030 £4,452,297 (£742/SF) 7.25% Net Initial Yield

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Investment Highlights

Recently Extended
Strong Deposits
Absolute NNN Ground Lease

Major Tenant Improvements
Investment Grade Tenancy
Strong Grocery Shadow Anchor

Executive Summary

CBRE’s Net Lease Property Group is pleased to extend the opportunity to acquire fee simple interest in a 6,000-square-foot Absolute NNN Bank of America Ground Lease located in Grayslake, Illinois. Bank of America spent $450k in renovations before exercising their first option to renew for five years, leaving approximately 4.5 years left of term, with three, five-year options remaining. This location reports strong deposits of $81.7 million which are well above the national average.
Bank of America is strategically positioned on the southwest corner of the signalized intersection of E Belvidere Road and S Atkinson Road with combined traffic counts of 24,800 vehicles per day. The site is located within Maple View Shopping Center and shadow-anchored by Jewel-Osco. Additional retailers surrounding the site include Ace Hardware, Dunkin’, Noodles & Company, Pet Supplies Plus, O’Reilly Auto Parts, AT&T, Dollar Tree, and Advance Auto Parts among others. The Property is also just west of Northwestern Medicine Hospital.