16767 Torrence Ave, Lansing, IL 60438
- Retail properties & Spaces
- 4,214 SF
- 0.24 lot acres
Current Use by Public Records
- Chase Bank / Bank / Loan Service
- Chase Mortgage / Loan Service / Bank
- Chase ATM / Atm
Property Details for 16767 Torrence Ave
- Year built
- 2010
- Lot size
- 0.24 lot acres
- Property type
- Retail properties & Spaces
- 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.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lansing
- County
- Cook
- State
- Illinois
- Longitude
- -87.5586
- Latitude
- 41.5914
