First Midwest Bank: Tinley Park, IL
LONG TERM CORPORATE LEASE WITH RARE ANNUAL 1.5% RENT INCREASES
12 Years Remaining on a 14-Year Absolute NNN lease with rare annual 1.5% increases. There are an additional five, 5-Year Renewal Option Periods.
ABSOLUTE NNN LEASE
The Absolute NNN lease structure provides an investor with a long-term, passive income stream with no landlord maintenance responsibilities whatsoever.
INVESTMENT GRADE TENANT
First Midwest Bank, the Tenant under the Lease, carries a Credit Rating of “BBB/Stable” from S&P and “A2” from Moody’s, which is higher than the parent company (First Midwest Bancorp, Inc.).(1)
FIRST MIDWEST BANK CORPORATE LEASE
• First Midwest Bancorp, Inc.(1) has over $15 Billion in assets, $11 Billion in trust assets and a net worth of $1.91 Billion
• Voted “Best Bank in Illinois” in 2017 by Money Magazine
• One of the largest independent publicly-traded banks (NASDAQ: FMBI) in the Midwest with over 130 locations in the metropolitan Chicago, northwest Indiana, central and western Illinois and eastern Iowa
• Acquired National Bank & Trust in 2015 and Standard Bancshares, Inc. in 2017, adding $3.3 Billion in total assets and strengthening the company’s market position in the Chicago MSA
• Winner of multiple J.D. Power Awards for highest customer satisfaction
(1) All financial data shown above is for First Midwest Bancorp, Inc., which does not guarantee the Lease. First Midwest Bank is the Tenant under the Lease, which has a higher credit rating than the parent company. Sources: www.firstmidwest.com, Yahoo Finance, Standard & Poor’s, Moody’s.
IL Broker of Record
Steven Weinstock
License: 471.011175
