Freestanding Single-Tenant Bank
For Sale
Contact for pricing
Pending
1802 Belvidere Rd, Waukegan, IL 60085
Purpose-built branch with established corporate tenancy, extended lease duration, and limited landlord obligations.
Property SizeContact for details
Days on Market142
Property Features for 1802 Belvidere Rd
General Information
Standard status
Pending
Property subtype
Retail
Site & Location
Corner Location
Yes
Traffic Count
36,200 vehicles/day
Building Details
Year Built
2007
Buildings
1
Tenancy
Single
Listing Agency:
JLL - Irvine (Orange County), California
Listed By:
Jeffrey Cicurel · License #SL3541410
Source:
Crexi
Added: Apr 13
Changed: Aug 30
Last Checked: Aug 30 at 7:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JLL - Irvine (Orange County), California
Investment Insights
Based on property information with market context.
This freestanding bank branch occupies a fee-simple property developed for PNC Bank in 2007. The building is leased to a single tenant and includes a corporate guaranty from PNC Bank, which carries an S&P rating of A-. The lease has 12.5 years remaining, provides 10% rent increases every 5 years beginning in 2033, and includes four 5-year renewal options. Landlord responsibilities are limited.
The property sits at a hard corner on Belvidere Road in Waukegan, within the Chicago metropolitan statistical area. The surrounding commercial corridor records traffic counts exceeding 36,200 VPD and serves 156,000 residents within a 5-mile radius. Nearby retail context includes Belvidere Strip Center & Mall and a high-performing Home Depot within 15 miles. Downtown Waukegan’s $315 million redevelopment program is less than 2 miles away and is planned to add 700 residences, 70,000 square feet of commercial space, and a park.
The property sits at a hard corner on Belvidere Road in Waukegan, within the Chicago metropolitan statistical area. The surrounding commercial corridor records traffic counts exceeding 36,200 VPD and serves 156,000 residents within a 5-mile radius. Nearby retail context includes Belvidere Strip Center & Mall and a high-performing Home Depot within 15 miles. Downtown Waukegan’s $315 million redevelopment program is less than 2 miles away and is planned to add 700 residences, 70,000 square feet of commercial space, and a park.
Key Highlights
- Freestanding single‑tenant PNC Bank branch developed in 2007
- 12.5 years of lease term remaining with four, five‑year renewal options
- 10% rent increases every 5 years beginning in 2033
Property Analytics
Property Profile
Current Use
Lease Details
36,200 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
74k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Home Improvements & Furnishings 47%
Electronics 1%
The Home Depot
Home Improvements & Furnishings
35,123 visits/mo
0.2 miles
PNC Bank
Shops & Services
9,153 visits/mo
0.1 miles
Exxon
Shops & Services
8,186 visits/mo
0.2 miles
Dollar General
Shops & Services
7,868 visits/mo
0.2 miles
Mobil
Shops & Services
6,244 visits/mo
0.5 miles
Demographics for 60085, IL
71,609
Population
26,781
Households
2.7
Avg Household Size
33
Median Age
19%
College-Educated
74%
High-School Grad
14.8 sq mi
ZIP Area
4,838
Density / Sq Mi
$64,330
Median Household Income
$35,645
Median Earnings
$1,133
Median Rent
$164,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Purpose-built branch with established corporate tenancy, extended lease duration, and limited landlord obligations.
Where is this bank located?
The property is located at 1802 Belvidere Rd Waukegan, IL.
What are key features of this property?
This property features: Freestanding single‑tenant PNC Bank branch developed in 2007; 12.5 years of lease term remaining with four, five‑year renewal options; 10% rent increases every 5 years beginning in 2033
