Huntington Bank Sold in Chicago MSA Date August 21, 2026
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Huntington Bank branch located at 401 Deerfield Pkwy in Buffalo Grove, Illinois for $2,770,000.
The Huntington Bank property is located at 401 Deerfield Pkwy in Buffalo Grove, Illinois, within the Chicago MSA. The property sits on a signalized hard corner at the intersection of Deerfield Road and Weiland Road. Deerfield Road and Weiland Road carry a combined traffic count of more than 33,700 vehicles per day. The property is in Lake County, Illinois, not Cook County. Huntington Bank occupies a 2.5-acre parcel that includes five drive-thru lanes. The 4,680-square-foot building was constructed in 1995. The site is adjacent to a major industrial corridor anchored by Rivian, Siemens, Tesla, Nemera, Kubota, Klein Tools, Sysmex America and Leider Greenhouses. The property is walkable to the Buffalo Grove Metra Station on the North Central Service line, which provides direct rail access to downtown Chicago. The average household income is approximately $204,587 within one mile, $167,983 within three miles and $164,405 within five miles of the property. The trade area includes 207,112 people within five miles and 11,929 people across 4,301 households within one mile. The Chicago MSA is the third-largest metropolitan statistical area in the United States, with approximately 9.4 million residents across 14 counties. Buffalo Grove ranked first in Illinois and 15th nationally in U.S. News & World Report’s 250 Best Places to Live, per Crain’s Chicago Business. Nearby schools and retailers include Adlai E. Stevenson High School, Buffalo Grove High School, Walgreens and Target.
Randy Blankstein, Jimmy Goodman and John Feeney of The Boulder Group represented both parties in the transaction. The seller was a Midwest-based real estate fund. The buyer was a West Coast-based individual investor.
Huntington Bank operates under a triple net (NNN) lease at the property. The lease expires on July 31, 2031, leaving approximately five years of remaining term. The lease includes two five-year renewal options. Rental escalations increase by the greater of ten percent or the cumulative change in the Consumer Price Index at each renewal option period. Under the NNN lease structure, the landlord holds zero responsibilities for taxes, insurance or maintenance. Huntington Bank exercised its most recent renewal option in December 2025, underscoring its long-term commitment to the site.
Huntington Bancshares Incorporated, the parent company of Huntington Bank, is headquartered in Columbus, Ohio. The company traces its roots to 1866, when it was founded as P.W. Huntington & Company. Today, its primary subsidiary, The Huntington National Bank, operates more than 1,000 banking offices across the Midwest and beyond, including Ohio, Michigan, Illinois, Wisconsin and the Carolinas, among other states. Huntington Bank provides banking, payments, wealth management and risk management services to consumers, small and middle-market businesses, corporations and municipalities. Huntington Bank carries an investment-grade credit rating.
“Investor demand for well-located bank branches with strong operating histories has stayed firm this year, even as the Federal Reserve has held interest rates steady,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “This property drew interest quickly because of its hard corner location and Huntington Bank’s long track record of renewing at this site.” John Feeney, Senior Vice President of The Boulder Group, noted, “Buyers continue to seek out this type of asset because it offers a truly passive, long-term NNN investment backed by an investment-grade tenant, which is an appealing profile for an investor placing 1031 exchange proceeds.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $11 billion of single tenant net lease real estate transactions. From 2013–2025, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both CoStar and MSCI Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
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