July 7, 2021 – Matt Nadler and Matt Siebert of Horvath & Tremblay have successfully completed the sale of a “dark” Bank of America in Batavia, Illinois. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $2,950,000.
Bank of America is located at 1978 W Wilson Street in Batavia, Illinois. The Bank of America retail branch consists of a 6,000 square foot building with three (3) dedicated drive through lanes, and a drive-up ATM on a 1.302-acre parcel. The Property was constructed in 2005 for LaSalle Bank. Bank of America acquired LaSalle Bank in 2008 and took over this location. Bank of America has 4+ years remaining on their ground lease with five (5), five-year renewal options. This location is currently dark. Bank of America is located at the signalized intersection of W Wilson Street and Randall Road (IL Route 34). The Property shares the intersection with a Target anchored Shopping Center and a Jewel-Osco anchored shopping center. The Property has outstanding frontage and visibility along W Wilson Street and Randall Road (IL Route 34), the area’s primary, heavily travelled, retail corridor. The location is part of an exceptional trade area located along Randall Road, the area’s primary commercial corridor with numerous national tenants and retail centers drawing significant traffic to the area. More than 117,300 people live within a 5-mile radius of the Property with an average household income of $134,222. An additional 75,700 people work within a 5-mile radius of the property. The property also benefits from traffic counts in excess of 37,900 vehicles per day.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.