Fifth Third Bank | 154 S Western Ave
Single-tenant Fifth Third Bank at 154 S Western Ave in Carpentersville, Illinois, offered at $2,370,000 at a 6.33% cap ($150,000 NOI). The property is leased on an Absolute NNN ground lease that was recently extended and has more than 10 years remaining. The landlord initially pays property taxes and CAM, but the tenant reimburses those costs, so ownership is largely passive.
The one-story, 3,833 SF building was built in 2007 and sits on a 0.89-acre (about 38,768 SF) commercial parcel with 42 parking spaces and drive-thru banking. It is a Class B retail property (APN 03-22-176-061). Fifth Third Bank carries an A- investment-grade rating from S&P and, after its recent merger with Comerica Bank, is the ninth-largest bank in the United States.
The site is on a major retail corridor near Home Depot, Panda Express, Walgreens, McDonald's, AutoZone, and Sherwin-Williams, and close to the large-scale redevelopment of Spring Hill Mall. Bus lines, commuter rail, and an airport are listed as nearby location amenities.
- Absolute NNN ground lease, recently extended with 10+ years remaining
- Investment-grade tenant, rated A- by S&P
- 6.33% cap rate on $150,000 NOI
- Drive-thru bank on a 0.89-acre lot with 42 parking spaces
- Major retail corridor next to the Spring Hill Mall redevelopment
More property details
About this property
This recently extended Fifth Third Bank property is strategically located along a major retail corridor, surrounded by prominent national retailers including Home Depot, Panda Express, Walgreens, McDonald’s, AutoZone, and Sherwin-Williams, as well as the large-scale redevelopment of Spring Hill Mall. Fifth Third Bank holds an investment-grade credit rating of A- from S&P and, following its recent merger with Comerica Bank, has become the ninth-largest bank in the United States. The property offers an attractive investment opportunity featuring an Absolute NNN ground lease, convenient drive-thru banking services, and a recently extended lease with more than 10 years remaining. Although the landlord initially pays property taxes and common area maintenance (CAM) expenses, these costs are reimbursed by the tenant, supporting a largely passive ownership structure.
Features & amenities
Location & transit
Buses
Commuter Rail
Airport
Transit data provided by Google. Times and distances are estimates.