10500 W Cermak Rd - Bank FOR SALE


Westchester, IL 60154
$3,300,000 USD
312-297-7634
10500 W Cermak Rd, Westchester, IL for Sale
$3,300,000 USD
Bank - FOR SALE
1/5
null | 7.25% Cap Rate

10500 W Cermak Rd
Westchester, IL 60154


HIGHLIGHTS

  • Recently Extended: Originally a 10-year sale leaseback, BMO recently executed its first renewal option through November 30, 2031
  • Investment Grade Rated Tenancy: BMO Bank (S&P: A+) is the 2nd largest bank in Illinois with $106 billion in deposits, representing 15% of all Illinois
  • Substantial Deposit Base: $142 million in deposits / 25% market share within 1-mile radius / largest BMO deposit base within 3-mile radius
  • Absolute NNN Lease: Long-term income with no landlord responsibilities for capital repair or replacement
  • Rental Growth: BMO’s rent escalates 1.50% annually
  • Dense, Infill Location: Significant commercial activity and a local area population exceeding 340,000 residents within a 5-mile radius

OVERVIEW

CBRE, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the fee-simple interest in the BMO Bank branch located at 10500 W Cermak Road in Westchester, Illinois. The Property is a freestanding, single-tenant retail bank branch net-leased to BMO Bank N.A., the United States operating arm and subsidiary of the Bank of Montreal (“BMO Financial Group”), one of North America’s leading financial institutions. Operating continuously as a bank since 1964, the branch occupies a signalized hard corner along Cermak Road, adjacent to a Jewel-Osco and within an established, affluent retail corridor. The offering presents a rare opportunity to acquire a passive, absolute-NNN asset backed by an investment-grade, market-leading financial institution that has recently reaffirmed its commitment through a renewal extending to November 30, 2031.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$288 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

BMO Harris Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

LAND ACRES

0.86 AC

LAND SF

37,462 SF

ZONING

B-1

APN/PARCEL ID

15-20-418-055-0000,15-20-418-057-0000,15-20-418-058-0000,15-20-418-059-0000,15-20-418-060-0000,15-20-418-061-0000,15-20-418-062-0000,15-20-418-126-0000,15-20-418-128-0000

ASK ABOUT THIS PROPERTY

312-297-7634

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312-297-7634

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