triple net lease fifth third bank

www.bouldergroup.com

NET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERING

Fifth Third Bank (Ground LeaseFifth Third Bank (Ground LeaseFifth Third Bank (Ground LeaseFifth Third Bank (Ground Lease)))) 240 Skokie Boulevard240 Skokie Boulevard240 Skokie Boulevard240 Skokie Boulevard

Northbrook, IL 60062 (ChicagoNorthbrook, IL 60062 (ChicagoNorthbrook, IL 60062 (ChicagoNorthbrook, IL 60062 (Chicago MSA)MSA)MSA)MSA)

NET LEASED INVESTMENT OFFERING


1)

2)

3)

4)

5)

6)

7)

8)

9)

10)

Confidentiality & Disclaimer

Executive Summary

Property Overview

Site Plan

Aerials

Map

Tenant Profile

Demographic Comparison Report

Location Overview

Contact Information

TABLE OF CONTENTS

TABLE OF CONTENTSTABLE OF CONTENTSTABLE OF CONTENTSTABLE OF CONTENTS



The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

CONFIDENTIALITY & DISCLAIMER

CONCONCONCONFIDENTIALITY & DISCLAIMERFIDENTIALITY & DISCLAIMERFIDENTIALITY & DISCLAIMERFIDENTIALITY & DISCLAIMER



The Boulder Group is pleased to exclusively market for sale a single tenant Fifth Third Bank ground lease located in the Chicago MSA. The property is located in the prestigious North Shore community of Northbrook, which is one of the most affluent Chicago suburbs. Fifth Third Bank is an investment grade company with a Standard & Poor’s rating of BBB. The property is located in the primary retail trade area of Northbrook.

The property is located on a 1.17 acre parcel along Skokie Boulevard, which experiences traffic volumes in excess of 21,000 vehicles per day. Additionally, the property is located one-quarter mile from the Lake Cook Road and Interstate 94 interchange. Interstate 94 experiences traffic volumes in excess of 126,000 vehicles per day. Fifth Third also benefits from having multiple drive-thru lanes and a drive-thru ATM. The property is located in the primary retail trade area in close proximity to multiple national tenants. The Village Square of Northbrook Shopping Center is located directly across from the property and features retailers Trader Joe’s, Nordstrom Rack, Saks Fifth Avenue (Off 5th), Loehmann’s, Marshalls and PetSmart. Additionally, a Bentley, Rolls Royce and Cadillac dealership is located adjacent to Fifth Third Bank and LA Fitness recently opened one-half mile north of the property. The property is also located one mile west from the Chicago Botanic Garden which experiences more than 950,000 visitors a year. Northbrook is also home to Northbrook Court, a regional mall, located less than one mile west of the property. Northbrook Court is anchored by Neiman Marcus, Macy’s, Lord & Taylor and an AMC movie theater.

Northbrook is an affluent community where residents enjoy household incomes in excess of $152,491 within three miles of the property. There are over 145,000 people living within five miles of the property. Northbrook is also home to several Fortune 500 companies, including Allstate, which employs over 10,000 people. Northbrook is centrally located between many affluent North Shore suburbs, including Glencoe, Highland Park, Deerfield and Winnetka. The North Shore is one of the wealthiest and most highly educated areas in the Midwest.

Fifth Third Bank’s primary lease term was for 25 years and has 16 years remaining. The lease features 10% escalations every five years. Fifth Third Bank is a publicly traded company on the NASDAQ (FITB), with a market capitalization of $14 billion. Fifth Third Bank is an investment grade company with a Standard & Poor’s rating of BBB.

• Located within the Chicago MSA

• Investment grade tenant (S&P: BBB)

• Long term lease with 16 years remaining in the primary term

• 10% rental escalations every five years

• No landlord responsibilities

• Close proximity to Interstate 94 (126,000 VPD)

• Nearby retailers include retailers Trader Joe’s, Nordstrom Rack, Saks Fifth Avenue Off 5th and LA Fitness

• Close proximity to Northbrook Court, a regional mall anchored by Neiman Marcus, Macy’s, Lord & Taylor and an AMC movie theater

• Skokie Boulevard experiences traffic counts in excess of 21,000 vehicles per day

• Adjacent to Bentley, Rolls Royce and Cadillac dealership

• Northbrook is an affluent Chicago suburb with average household incomes in excess of $152,491 within three miles of the property

INVESTMENT HIGHLIGHTS

EXECUTIVE SUMMARY

EXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARY



Price: $3,950,000

Cap Rate: 5.36%

Rent Schedule: NOI Escalation Date

$ 211,7501

$ 232,925 4/1/2019

$ 256,217 4/1/2024

Renewal Options: Five 5-Year with escalations2

Lease Commencement Date: April 1, 2004

Lease Expiration Date: March 31, 2029

Tenant: Fifth Third Bank

Credit Rating: BBB (Standard & Poor’s)

Year Built 2004

Lease Type: NNN Ground Lease

Rentable Square Feet: 4,100 SF

Land Size: 1.71 Acres

(1) Seller will pay the differential between the current rent of $192,500, until the rent

escalates in April 2014 to $211,750.

(2) NOI increases by the greater of 10% or 95% of fair market value in each option.

PROPERTY OVERVIEW

PROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEW



SITE PLANSITE PLANSITE PLANSITE PLAN

SITE PLAN



AERIALAERIALAERIALAERIALSSSS

AERIALS



MAP

MAPMAPMAPMAP



Website: www.53.com

Number of Locations: 1,316

Stock Symbol: FITB : NASDAQ

Standard & Poor’s Rating: BBB

Market Capitalization: $14 billion

Employees 21,613

Fifth Third Bank is a Cincinnati, Ohio‐based regional Banking Corporation with $111 billion in total assets. Fifth Third

Bank is the principal subsidiary of Fifth Third Bancorp holding Company. Fifth Third Bancorp has 15 affiliates and

operates over 1,300 full-service Banking Centers in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee,

West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third Bank provides branch banking,

consumer lending, commercial banking and investment advising services. Fifth Third is also recognized as one of the

largest money managers in the Midwest. As of December 2011, Fifth Third had $28.2 billion in assets under care, of

which it managed $24 billion for individuals, corporations and not-for-profit organizations.

TENANT PROFILE

TENANT PROFILETENANT PROFILETENANT PROFILETENANT PROFILE



PopulationPopulationPopulationPopulation 1111----mi.mi.mi.mi. 3333----mimimimi 5555----mimimimi

Total Population 3,806 57,125 140,449 Total Households 1,427 21,398 52,322

IncomeIncomeIncomeIncome

Median Household Income $114,488 $125,185 $120,075 Average Household Income $141,980 $152,941 $147,510

DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORT

NorthbrookNorthbrookNorthbrookNorthbrookShore. The Village of Northbrook is more than just another North Shore suburb; it is a diverse community that has managed to grow, thrive, and yet remain totally unique in the Chicagosystem, excellent transportation access and a diverse and vibrant collection of businesses, Northbrook is a wonderful place to live, work, shop and play. People continuously choose to relosuperior elementary schools, middle schools and the presence of Glenbrook North High School. Glenbrook North High School is renowned for its academic, athletics, and fine arts programs.

The metro is also a major financial center in North America, and is home to the largest futures exchange in the United States, the CME Group. Chicago is third in the competitiveness of financial centers based on people, business environment, market access, infrastructure and general competitiveness.

www.cityofchicago.com

Chicago Chicago Chicago Chicago is the most populous city in the Midwestern United States and the third most populous city in the United States with 2,700,000 residents. Chicago is the county seat of Cook MSA is the third most populated metropolitan area in the United States with 9,580,567 residents. The MSA covers over 1,300 square miles and six counties. The Chicago metropolitan area is h1000 companies, including Boeing, McDonald's, Motorola, Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecommunications and infrastructure and O'Hare International Airworld in terms of traffic movement.

The Village is also home to several Fortune 500 companies, including Allstate (over 10,000 employees), Underwriters

Laboratories, and Sky Harbor Industrial Park, which has more than 700 businesses located within its

This makes for a strong backbone of service

to the vitality of the Village. People who enjoy shopping will appreciate the fact that Northbrook Court and Willow

Festival offer anchors such as Nieman Marcus, Macy’s, Lord & Taylor, Lowes, Best Buy, and a movie theater.

The Village of Northbrook lies in the northern region of an area bounded by I

41 on the west and east, and again by I-94 on the north. It is about 3 miles west of Lake Michigan and 3 miles east of

Chicago Executive Airport. Chicago O'Hare Airport is located approximately 12

the I-294 and I-90 intersection.



LOC

LOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEW

NorthbrookNorthbrookNorthbrookNorthbrook has long been regarded as one of the premier communities of the North Shore. The Village of Northbrook is more than just another North Shore suburb; it is a diverse community that has managed to grow, thrive, and yet remain totally unique in the Chicagoland area. With outstanding amenities, a highly ranked educational system, excellent transportation access and a diverse and vibrant collection of businesses, Northbrook is a wonderful place to live, work, shop and play. People continuously choose to relocate to Northbrook due, in large part, to the availability of superior elementary schools, middle schools and the presence of Glenbrook North High School. Glenbrook North High School is renowned for its academic, athletics, and fine arts programs.

The metro is also a major financial center in North America, and is home to the largest futures exchange in the United States, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks the competitiveness of financial centers based on people, business environment, market access, infrastructure and

is the most populous city in the Midwestern United States and the third most populous city in the United States with 2,700,000 residents. Chicago is the county seat of Cook County, the second largest county in the United States. The Chicago MSA is the third most populated metropolitan area in the United States with 9,580,567 residents. The MSA covers over 1,300 square miles and six counties. The Chicago metropolitan area is home to the corporate headquarters of 57 Fortune 1000 companies, including Boeing, McDonald's, Motorola, Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecommunications and infrastructure and O'Hare International Airport is the second busiest airport in the world in terms of traffic movement.


Laboratories, and Sky Harbor Industrial Park, which has more than 700 businesses located within its

This makes for a strong backbone of service-related, manufacturing, and light-industrial companies that all contribute


offer anchors such as Nieman Marcus, Macy’s, Lord & Taylor, Lowes, Best Buy, and a movie theater.

The Village of Northbrook lies in the northern region of an area bounded by I-90 on the south, I

94 on the north. It is about 3 miles west of Lake Michigan and 3 miles east of

Chicago Executive Airport. Chicago O'Hare Airport is located approximately 12-15 miles to the southwest, just beyond

LOCATION OVERVIEW

has long been regarded as one of the premier communities of the North Shore. The Village of Northbrook is more than just another North Shore suburb; it is a diverse community that has managed to grow, thrive, and yet remain totally unique

land area. With outstanding amenities, a highly ranked educational system, excellent transportation access and a diverse and vibrant collection of businesses, Northbrook is a wonderful place to live, work, shop and play. People

cate to Northbrook due, in large part, to the availability of superior elementary schools, middle schools and the presence of Glenbrook North High School. Glenbrook North High School is renowned for its academic, athletics,

The metro is also a major financial center in North America, and is home to the largest futures exchange in the United world on the Global Financial Centers Index which ranks the

competitiveness of financial centers based on people, business environment, market access, infrastructure and

is the most populous city in the Midwestern United States and the third most populous city in the United States with 2,700,000 residents. Chicago is the county

County, the second largest county in the United States. The Chicago MSA is the third most populated metropolitan area in the United States with 9,580,567 residents. The MSA covers over 1,300 square miles and six counties. The

ome to the corporate headquarters of 57 Fortune 1000 companies, including Boeing, McDonald's, Motorola, Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecommunications

port is the second busiest airport in the


Laboratories, and Sky Harbor Industrial Park, which has more than 700 businesses located within its boundaries.

industrial companies that all contribute


offer anchors such as Nieman Marcus, Macy’s, Lord & Taylor, Lowes, Best Buy, and a movie theater.

90 on the south, I-295 and I-94/Route

94 on the north. It is about 3 miles west of Lake Michigan and 3 miles east of

15 miles to the southwest, just beyond



666 Dundee Road Suite 1801 Northbrook, IL 60062

Randy Blankstein President 847.562.0003 [email protected]

Jimmy Goodman Partner 847.562.8500 [email protected]

CONTACT INFORMATION

CONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATION

triple net lease fifth third bank

Documents