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Harris Bank
Status: Available
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Berwyn, IL 60402
Cook County
United States

$1,270,000
7.50% Capitalization Rate

Harris is an integrated financial service organization providing more than 1 million personal, business and corporate clients with banking, lending, and investing and wealth management solutions. Harris Bank is a private bank founded in 1882 and a wholly owned subsidiary of the Bank of Montreal. Harris has been helping its customers and the communities it serves for 125 years. Harris Bank is the third-largest bank in the Chicago area based on number of full-service branches and has more than 234 branches in Chicago, the suburbs as well as Central and Northwest Indiana as well as 41 full-service locations in Wisconsin and more than 580 ATMs.

The subject property is located at the NEC of Stanley and Grove Avenue in Berwyn, IL. The new construction free standing Harris Bank property is accompanied by 2 drive through lanes and sits below a 52 unit mixed used condominium and retail project directly contiguous to the north of the Berwyn Metra Station. The low annual rent of $74,852 provides an excellent opportunity for an investor to obtain great residual value while having the comfort level of the third-largest bank in the Chicago area guaranteeing the lease.

Lease Terms
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Annual Rent $73,027 ($25.11 / sq. ft.)
Lease Commencement Date July 1, 2008
Lease Expiration Date June 30, 2018
Initial Lease Term 10 Year Absolute Triple-Net
Rent Increases 2.5% Annual Increases beginning $74,852,67 7/1/2010
Renewal Options Four (4) - 5 Yr Renewal Options
Tenant Responsibility RE Taxes, CAM, Insurance, Roof, Structure, HVAC
Lessor Responsiblity NONE - Absolute Triple Net
Lease Guarantor Harris Bank
 
Property & Location
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Building Size 2,908 sq. ft.
Parking Adequate
Local Tenants The new construction free standing Harris Bank property is accompanied by 2 drive through lanes and sits below a 52 unit mixed used condominium and retail project directly contiguous to the north of the Berwyn Metra Station.
 
Local Demographics
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 Annual Rent ($) $73,027.00
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  $73,027.00
   
  
 
 
   

* Above information is subject to verification - no liability for errors or omission is assumed.
* Price subject to change and listing withdrawn without notice.

 

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Robert Miller

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Robert Miller

Millco Investments
19 South LaSalle Street
Suite #501
Chicago, IL 60603
312 377-7800 Direct
312-543-1008 Mobile
312-377-7898 Fax

 

 


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Millco Investments
19 South LaSalle Street
Suite #1000
Chicago, IL 60603
 
(800) 416-2424
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