Net Leased Chase Bank Sold Date January 26, 2023
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Chase Bank property located at 2 W Northwest Highway in Mount Prospect, Illinois for $5,000,000. This was a relocation of an existing net leased Chase Bank site located in the area.
The 3,989 square foot building is strategically positioned at the signalized corner of West-Northwest Highway and Illinois Route 83 with a combined traffic count of 29,000 VPD. The property is positioned one-block from the Mount Prospect Metra train station along the Union Pacific Northwest Line – Metra’s 2nd busiest line with an average 37,000 boardings per weekday. This specific station alone experiences 1,900 passengers daily. Other tenants in the area include Starbucks, Subway, Dunkin’, and Fifth Third Bank. There are 294,054 people living within five miles of the property earning an average annual household income of $109,228.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The Seller was a Midwest real estate partnership, and the Buyer was a local investor in a 1031 exchange.
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City. JPMorgan Chase is ranked by S&P Global as the largest bank in the United States and the sixth largest bank in the world by total assets, with total assets of $2.687 trillion.
“Single tenant bank properties continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The buyer’s confidence was inspired by the $648 million deposits from the previous location.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net leased 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 $5 billion of single tenant net leased real estate transactions. From 2012-2020, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.comBack