PNC Bank NNN Property For Sale — Lake Zurich, IL · 3,315 SF
Lake Zurich, IL 60047
A single-tenant PNC Bank ground lease property located at the signalized intersection of Quentin Road and Illinois Route 22 in Lake Zurich, Illinois, within the Chicago MSA. The property features a long-term triple-net (NNN) ground lease with zero landlord responsibilities and 10% rental increases every five years throughout the primary term and the four 5-year renewal options. The site is outparcel to a top-performing Mariano's Fresh Market grocery store and sits within an affluent trade area where average household incomes exceed $146,800 within a one-mile radius. Combined traffic counts at the intersection exceed 32,700 vehicles per day. PNC Bank holds an investment-grade credit rating of A- from Standard & Poor's.
- Address: Lake Zurich, IL 60047
- Asking price $6.38M
- 4.70% cap rate
- NOI $300,000
- 7.7 years remaining
- NNN lease
- Year built: 2014
- Building size: 3,315 SF
- Lot size: 1.24 acres
- Lease expiration: Jul 31, 2034
- Rent increases: $300,000; $330,000 on 8/1/2019; $363,000 on 8/1/2024; $399,300 on 8/1/2029; …
- Guarantor: Corporate
Location
This PNC Bank property is in Lake Zurich, Illinois.
Asset type: Bank