Chase Bank single tenant NNN for sale in Chicago suburb

I rarely post investment deals outside of California these days but this one looks very attractive. Lincoln Park is one of the most expensive suburbs outside of Chicago. Home prices average $1M+ and household income in the area is over $139,000. Chase is one of the winners in the banking world and this corner location on the main thoroughfare is a great location. Cap rate is 7.03%, $2,125,000 price with $149,336 net operating income. This is a sold 1031 exchange option or straight investment purchase. Call me for details on this quite popular investment opportunity.

Update on Apartment Loans for Bay Area Real Estate Investments

Kari Noomen of Chase Commercial lending spoke to the Bay Area Apartment Brokers Forum last week. Her update included the following rates for apartment loans that she is facilitating through Chase Bank. For an average "B" quality building, the best rates are 5 year fixed at 4.97% with 75% loan to value and qualifying at that rate to a 1.15 DCR (debt coverage ratio). For years in this area, the LTV of 75% was a non-issue since the DCR would cap the amount of loan to a building to 50-60% of the purchase price. Now Kari is actually doing 75% LTV loans because the interest rates are so low. This is a very good time to get solid financing on great apartment assets in the San Jose / Silicon Valley area.