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| Harris Bank |
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Berwyn, IL 60402
Cook County United States |
$1,270,000 7.50% Capitalization Rate |
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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.) |
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| Lease Commencement Date |
July 1, 2008 |
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| Lease Expiration Date |
June 30, 2018 |
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| Initial Lease Term |
10 Year Absolute Triple-Net |
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| Rent Increases |
2.5% Annual Increases beginning $74,852,67 7/1/2010 |
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| Renewal Options |
Four (4) - 5 Yr Renewal Options |
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| Tenant Responsibility |
RE Taxes, CAM, Insurance, Roof, Structure, HVAC |
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| Lessor Responsiblity |
NONE - Absolute Triple Net |
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| Lease Guarantor |
Harris Bank |
| Property & Location |
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| Building Size |
2,908 sq. ft. |
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| Parking |
Adequate |
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| 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. |
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| Local Demographics |
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* 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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