Investment Overview
Long-term tenant - since 1991 - with a 10-year lease starting 2025
5.25% cap rate - current year; current term ends 03/31/2025
2% annual increase on rent
4-5 year renewals left
Strong Guarantee - leased to a national credit tenant Moody's - Baa1 - stable; 3rd largest bank holding company in US - 2 Trillion in total assets
On-site parking
Double corner location (see map)
Investment Highlights
- Long-term tenant since 1991 - just renewed with an unusually long lease term: 10 years - through 2034!
- 5.7% cap rate (current year); grows to 6.7%
- 2% annual increase on rent plus (2) 5 year renewal options - starting in 2035
- Strong guarantee - leased to a national credit tenant - 3rd largest bank holding company in US with $2+ trillion in assets; Moody's - Aa3 - stable
- Excellent parking; landmark building designed by student of Frank Lloyd Wright
- Double corner location with separate drive-thru parcel (see aerial)
- Within walking distance of Metra Brookfield and Congress Park stations
- Offering Memorandum available - contact broker