Net Leased Bank
401 DEERFIELD PKWY Buffalo Grove, IL 60089
401 DEERFIELD PKWY, Buffalo Grove, IL, 60089
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For Sale
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Single-tenant Huntington Bank property on a signalized corner with multiple renewal options and documented rental escalations.
Property Size4,680 SF
Price / SF$600.92
Days on Market51
Property Features for 401 DEERFIELD PKWY
General Information
- Standard status
- Active
- Size
- 4,680 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1995
Listing agency
The Boulder Group
(847) 562-0003
Listed by
Randy Blankstein · License #IL 471005983
Source
Crexi
Added: Jun 2 Updated: Jul 10 at 1:50PM Checked: Jul 21 at 10:27AM
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 The Boulder Group
Investment Insights
Based on property information with market context.
The offering is a single-tenant, net leased Huntington Bank property with a total building size of 4,680 square feet. The asset is positioned for banking operations in a durable street-corner format, with ownership structured as a net lease tied to Huntington Bank’s occupancy. The current lease history includes multiple renewal options, most recently exercised in December 2025, and each remaining renewal option includes rental escalations equal to the greater of 10% or the cumulative CPI.
Located within the Chicago MSA in Buffalo Grove, Illinois, the property sits on a signalized hard corner along Deerfield Road and Weiland Road, with the combined traffic count reported as over 33,700 vehicles per day. It is situated in Lake County, and the surrounding area includes a major industrial corridor anchored by Rivian, Siemens, Tesla, Nemera, Kubota, Klein Tools, Sysmex America, and Leider Greenhouses, supporting daytime activity near the site. The property is also walkable to the Buffalo Grove Metra Station along the North Central Service line.
For buyers seeking a stabilized, single-tenant bank lease, this location provides long-term tenant commitment evidenced by exercised renewals and scheduled escalations through future renewal terms. The balance of a net lease structure with a prominent corner setting and consistent regional rail access may appeal to investors focused on credit-backed tenancy and practical, straightforward ownership.
Located within the Chicago MSA in Buffalo Grove, Illinois, the property sits on a signalized hard corner along Deerfield Road and Weiland Road, with the combined traffic count reported as over 33,700 vehicles per day. It is situated in Lake County, and the surrounding area includes a major industrial corridor anchored by Rivian, Siemens, Tesla, Nemera, Kubota, Klein Tools, Sysmex America, and Leider Greenhouses, supporting daytime activity near the site. The property is also walkable to the Buffalo Grove Metra Station along the North Central Service line.
For buyers seeking a stabilized, single-tenant bank lease, this location provides long-term tenant commitment evidenced by exercised renewals and scheduled escalations through future renewal terms. The balance of a net lease structure with a prominent corner setting and consistent regional rail access may appeal to investors focused on credit-backed tenancy and practical, straightforward ownership.
Key Highlights
- 4,680 SF single‑tenant net leased Huntington Bank property built in 1995
- Signalized hard‑corner location on Deerfield Rd and Weiland Rd with combined traffic of 33,700+ vehicles per day
- Huntington Bank exercised multiple renewal options, most recently in December 2025
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $117.9k | $25.20 |
| − Vacancy | −$3.1k | −$0.66 |
| EGI | $114.9k | $24.54 |
| − OpEx | −$28.7k | −$6.14 |
| NOI | $86.2k | $18.41 |
4,680 SF · lease $25.20/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.23M
$1.08M – $1.44M
NOI $86,152 @ 7.0% cap · market cap 3.06%
Second Best
Retail
$683.7K
$598.3K – $797.7K
NOI $47,862 @ 7.0% cap · market cap 1.70%
Theoretical Best
Office A
$1.62M
$1.41M – $1.89M
NOI $113,105 @ 7.0% cap · market cap 4.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Huntington Bank
Bank
Huntington Bank ATM ...
Atm
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FAQs
What type of property is this?
Bank - Single-tenant Huntington Bank property on a signalized corner with multiple renewal options and documented rental escalations.
Where is this bank located?
The property is located at 401 DEERFIELD PKWY Buffalo Grove, IL.
What is the asking price?
The asking price for this property is $2,812,324.
What are key features of this property?
This property features: 4,680 SF single‑tenant net leased Huntington Bank property built in 1995; Signalized hard‑corner location on Deerfield Rd and Weiland Rd with combined traffic of 33,700+ vehicles per day; Huntington Bank exercised multiple renewal options, most recently in December 2025
