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JLL is pleased to offer the fee-simple interest in 104 N. Oak Park Avenue (the “Property”), an iconic two-story brick building on a transit-adjacent hard-corner in Oak Park, IL. The Property is 100% leased to investment-grade rated U.S. Bank (“the Tenant”), having recently executed a three-year lease extension resulting in a total of 3.9 years of remaining lease term. The lease benefits from a true Absolute NNN structure with zero landlord responsibilities in addition to attractive 3% annual rent increases.
The Property offers over 0.4 acres of generational real estate in downtown Oak Park, a thriving and affluent community that sits as the first suburb west of the City of Chicago, just nine miles from the CBD. Oak Park boasts excellent schools, world-class architecture, shopping, dining, and an extensive public transportation network that creates a true urban to suburban oasis near the city, making it an attractive location for larger development projects in recent years. Adjacent to the Oak Park CTA station, 104 Oak Park is a transit-oriented asset next to a station that sees over 463,000 annual riders at its peak levels.
With just under four years of lease term, 3% annual increases, and one remaining three-year lease option to U.S. Bank, the Offering presents a unique opportunity to acquire secured investment-grade cash flow with limitless long-term value-creation potential in an iconic building in downtown Oak Park.
- Generational hard-corner, transit-oriented real estate in Oak Park, IL
- Iconic two-story building with beautiful architectural design
- Long-term repositioning potential for a multitude of creative uses
- Adjacent to a six-story parking structure immediately to the East
- Affluent, educated, and dense surrounding population just 9 miles from the Chicago CBD
- 100% Absolute NNN leased to U.S. Bank - zero landlord responsibilities
- 3.9 years of lease term remaining with 3% annual rent increases