B+E brokers sale of Chicago CIBC retail bank property for $1.9 million

B+E, the first brokerage and technology platform for net lease real estate, today announced the sale of the newly constructed CIBC retail bank property located at 458 E Pershing Road, Chicago, Illinois for $1,900,000.

The buyer is from Texas and the seller is a local Chicago developer.

“This is a brand new 20-year ground lease with CIBC and carries an A rating from S & P,” said Spencer Henderson of B+E. “In addition, the investment provides 2% annual rent increases and is equipped with a drive thru.

“Currently in net lease, we are seeing a flight to credit, long lease terms and quality real estate. This CIBC transaction checks all those boxes.”

For more information, contact Spencer Henderson at shenderson@benetlease.com or go to www.benetlease.com.