US Bank - Mount Prospect, IL — Sale in Mount Prospect, IL
- Price: $3.1M
- Listing type: For sale
- Asset type: Retail Business
- Location: Mount Prospect, IL 60056
- Year built: 1976
Photos
Investment Figures
- Cap rate
- 5.25%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to present for sale the single-tenant U.S. Bank National Association (the “Tenant”) at 940 E Rand Road, Mt. Prospect, IL (the “Property”). The Property is strategically positioned just 20 miles from downtown Chicago within the broader Chicago MSA, which has a population of 9.6 million. The site benefits from its prime location along E Rand Road and E Central Road, which generates approximately 40,000 vehicles per day. The asset enjoys a strategic out-lot position adjacent to a Walmart Supercenter and the Mt. Prospect Plaza, an Aldi-anchored retail center featuring nationally recognized tenants including Ross, LA Fitness, Marshalls, Burlington, and Five Below. The neighboring Walmart Supercenter and Menards generate approximately 2.0 million and 1.1 million annual visitors, respectively. Positioned within Mt. Prospect's strong retail, hospitality, and residential corridor, the property benefits from excellent demographics including 310,000 residents with an average household income of $147,000 within a 5-mile radius. This absolute NNN ground lease U.S. Bank investment opportunity offers a secure income stream backed by an investment grade Tenant with over five decades of operational success and continued revenue growth.
Market Context
This retail in Mount Prospect, IL is listed for sale at $3,061,000. It is offered at an approximate 5.2% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1976. Compare it against other retail listings for sale in Mount Prospect, IL — view the full market.
As of Q4 2025, the Chicago retail market showed a 5.1% vacancy rate, average asking rents near $19.00/SF/yr, rents up 2.4% year over year, and cap rates around 7.9%. Source: multiple brokerage reports, Q4 2025.
Its 5.2% asking cap rate is below the Chicago retail market average of about 7.9%, reflecting premium pricing relative to comparable assets. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.
Retail market FAQ
- What is the typical cap rate for retail in Chicago?
- About 7.9% as of Q4 2025, per multiple brokerage reports.
- Is the Chicago retail market tightening or softening?
- Vacancy is around 5.1%, with asking rents rising year over year (Q4 2025).
Estimated Price per SF
$56.15/SF – $408.36/SF
Mid: $170.15/SF
About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.
Contact
- Mohsin Mirza · 3122282867 · mohsin.mirza@jll.com
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