10 Huntington Ln Wheeling, IL 60090-6900

Property Details for 10 Huntington Ln

Year built

1990

Lot size

1.50 lot acres

Property type

Banks

APN

03-04-400-032

APU

304400032

Description

This exceptional investment opportunity presents a 5,905 square foot, single-tenant, absolute NNN leased bank property located at 10 Huntington Ln, Wheeling, IL 60090. The property sits on a 1.5-acre lot and is currently 100% occupied by BMO Harris Bank, one of the eight largest banks in the U.S., boasting an S&P "A+" credit rating and a corporate guarantee. The lease commenced January 1, 1990, and was recently renewed, extending the term to March 31, 2034, providing a remaining lease term of approximately 9.4 years. The current annual net operating income (NOI) is $233,838, resulting in a 5.85% cap rate. The lease includes rent bumps of 10% every 5 years, ensuring consistent income growth. Built in 1990 and renovated in 2012, this property benefits from a prime location in a thriving community with strong demographics. The bank has maintained a presence at this location since January 1, 1996, and boasts $141 million in deposits. This offering is ideal for a 1031 exchange. The property's strategic location at a signalized intersection within Cook County, Illinois, further enhances its investment appeal. This is a rare opportunity to acquire a high-quality, net-leased bank investment with a long-term lease, strong tenant, and significant upside potential.

Location Insight

City

Wheeling

County

Cook

State

Illinois

Longitude

-87.9558

Latitude

42.1395

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments