16767 Torrence Ave Lansing, IL 60438

Property Details for 16767 Torrence Ave

Year built

2010

Lot size

0.24 lot acres

Property size

4,214 SF

Property type

Retail properties

Property subtype

Banks

Description

This exceptional investment opportunity presents a 4,214 square foot Chase Bank located at 16767 Torrence Ave, Lansing, IL 60438. The property boasts a corporate absolute NNN ground lease with a credit-rated tenant, JPMorgan Chase Bank & Co., offering significant financial stability. The lease commenced March 23, 2010, and expires December 31, 2030, with four 5-year renewal options, each including a 10% rent increase. The current lease has 6.1 years remaining, generating a strong NOI of $137,500 and a 5.15% cap rate. The asking price is $2,669,903, translating to $633.58 per square foot. Built in 2010 on a 0.24-acre lot, this single-tenant property enjoys 100% occupancy and benefits from a 10% rent increase scheduled for January 1, 2026. The property's strategic location at a signalized intersection on Torrence Ave near I-94, with high daily traffic volume, ensures excellent visibility and accessibility. Surrounding national retailers include Aldi, Home Depot, Walmart, and more, further enhancing its appeal. This is a prime investment opportunity with minimal management expenses and substantial upside potential due to the built-in rent increases and strong tenant. The property's location within a densely populated area with a large daytime workforce adds to its long-term value. The property is a nationally ranked top 86% performing store according to Placer.ai.