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BMO Harris Bank - Plano, IL

60% Market Share I Annual Increases

Listing Contacts

Active

Asking Price: $2,320,475
Address 

2005 Walter Payton Memorial Hwy, Plano, IL 60545

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Date Added
Jun 17, 2024
Days on Market
271 days
Time Since Last Update
19 days

Details

Property TypeRetail
SubtypeBank
Investment TypeNet Lease
Investment Sub TypeBank
Lease TypeAbsolute NNN
TenancySingle
Brand/TenantChase Bank, Bank of America, Citizens Bank, Wells Fargo Bank, BMO Harris Bank
Lease Expiration01/31/2026
Remaining Term0.9 years
Square Footage10,000
Net Rentable (sq ft)10,000
Price/Sq Ft$232.05
Cap Rate7.50%
Occupancy100%
Year Built1992
Year Renovated1992
Buildings1
Stories1
Lot Size (acres)2.67
Rent Bumps7.5% in Options
Broker Co-OpYes
Lease Options8, 5-year options
Ground LeaseNo
OwnershipFee Simple

Investment Highlights

LEASE & LOCATION:

• BMO Harris Bank has ±58% of the total deposit market share in the Plano, IL region.

• Absolute NNN Lease with zero landlord responsibilities.

• The lease features 1.5% annual increases and eight, 5-year option periods.

• Deposits have increased over 30% since 2018, proving this to be a strong location in a growing market.

• Ideally positioned along Walter Payton Memorial Highway, this property is surrounded by several national retailers including Walmart, Aldi, Arby’s Murphy USA, Smoothie King, AutoZone, O’Reilly Auto Parts.

• Plano, IL is ±50 miles west of Chicago and has seen a population growth of nearly 1% annually since 2010.

• Built in 1992, this branch has successfully operated for over 30 years. • Average household income with a 5-Mile Radius over $100,000.

TENANT:

• Extremely strong credit rating of A+ (S&P 500) with over $940B in total assets as of April 2023.

• Founded in 1882, BMO Harris Bank is headquartered in Chicago, IL. Its parent company is the Bank of Montreal with a market cap of $62.5B (NYSE: BMO).

• Serving over 12 million customers globally, BMO Harris Bank has over 600 branches 1,300 ATMs, and has nearly 15,000 employees

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Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

Contact

Listing Contacts


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