Fifth Third Bank | Carpentersville, IL
154 S Western Ave | Carpentersville, Illinois | 60110
- Year Built: 1991
- Type: Retail
- Cap Rate: 5.0%
- Bldg Size: 3,833 Sq Ft.
- Lot Size: 38,746 Sq Ft.
- Great National Tenant w/ Strong Deposit Base
- Located on Prime Commercial Corridor
- Excellent Visibility w/ Ingress & Egress
- Absolute NNN Ground Lease
The subject property consists of a 3,833 square foot single-tenant retail building situated on a +/- 38,746 square foot parcel located at 154 South Western Avenue in Carpentersville, IL. The site is 100% occupied by national tenant Fifth Third Bank; an investment grade tenant (S&P rated BBB). The site is located on a pad to Spring Hill Marketplace multi-tenant retail center that includes tenants: Big Lots, Sherwin-Williams, The UPS Store, AutoZone, Firestone, FastSigns and many more.
The subject property benefits from excellent visibility on Western Avenue which sees over 30,000 vehicles per day. The site is located directly across from Spring Hill Mall – a 1.1m square foot shopping mall anchored by Macy’s, Kohl’s and Sears – and sits on Carpentersville’s primary retail corridor. Other national retailers within 1/4 mile of the site include: Home Depot, Target, Walgreens, McDonalds, AutoZone, Sherwin Williams and countless others. In the last several months, this market has seen significant leasing activity and growth with LA Fitness and BigLots moving in and other national tenants extending their leases early, evidencing the high quality of this retail corridor. In addition, multiple access points to the shopping center, including signalized intersection of Hillside Street and Western Avenue, provide excellent ingress/egress. The subject property benefits from a population of over 54,000 with an average household income of over $86,000 within a three-mile radius.