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Chicago & Midwest  + Greater Chicagoland  + Net Lease  | 

Boulder Group Closes Deal for First Midwest Bank Portfolio

The Boulder Group completed the sale of nine single-tenant First Midwest Bank properties located throughout Illinois for approximately $46,600,000. Buyer and seller weren’t disclosed.

The nine First Midwest Bank locations feature leases with approximately 10 years remaining in the primary term. They also host a list of renewal options with rental escalations. Each property is positioned within a retail corridor.

“Portfolios of high quality single-tenant investment grade properties are in high demand, but not in abundant supply,” said Jimmy Goodman, partner of The Boulder Group.  

Randy Blankstein, president of The Boulder Group, added, “Net lease investors are seeking banks with strong deposit histories along with long term lease agreements.”

Connect

Inside The Story

Boulder Group’s Blankstein and Goodman

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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