10500 West Cermak Road
BMO Bank | S&P: A+ | Chicago MSA
Marketing description
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.
Investment 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 deposits
- 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
- Affluent Western Suburbs Location: Average annual household incomes of nearly $120,000 within a 1-mile radius, increasing to roughly $150,000 within a 5-mile radius
- Grocery-Anchored, High Traffic Retail Corridor: BMO is proximate to a Jewel-Osco grocery store and fronts Cermak Road (24,400 VPD) near the intersection with Mannheim Road (25,700 VPD)
- National Retailer Marketplace: BMO is part of a larger commercial corridor anchored by Oakbrook Center (Nordstrom, Neiman Marcus, Macy’s) to the west and Home Depot and Target to the east
- Dense, Infill Location: Significant commercial activity and a local area population exceeding 340,000 residents within a 5-mile radius
- Attractive Bank Parcel: 0.86-acre site (3 parcels) with substantial 70-space parking area, 3 drive-thru banking lanes, and 1 ATM lane
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
