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Views: 87 Updated: 05.21.24 Posted: 11.30.23 Status: Inactive

Summary

Price $4,226,087
Built/Renov 2023
Tenant BMO Harris Bank
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,177
Lease Start 06-01-2023
#Units 500
Price/SF $1,011.75
Expiration 11-30-2033
Tenant Type Bank/Financial
NOI $243,000
R. Term 9.0
Ownership Fee Simple
Rent/SF $58.18
Increases 10.0%/5/yrs
Pop 5Mi 314,187
Lot/AC 0.00
Options 6/5yrs/10%
AHHI 5Mi $127,794

Lease Highlights

  • Brand-new 2023 construction
  • BMO Harris Bank recently signed a brand-new 10-year lease with 6 (5-year) options to extend
  • Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
  • Relocation from a former site where deposits were $148,000,000
  • Absolute NNN | Zero landlord responsibilities

  • Corporate guarantee | Investment grade tenant

Location Description

BMO Harris Bank is strategically located along West Northwest Highway, with access to 21,600 vehicles passing by daily. The property is conveniently positioned in close proximity to Interstate 290 (141,300 VPD), a main thoroughfare connecting the north suburbs to downtown Chicago. In the vicinity are well-known national retailers such as Starbucks, Bath & Body Works. Moreover, the site is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: BMO Harris Bank
  • Guarantor:Corp T and Rated
  • Company:BMO Harris Bank
  • # Units:500
  • Tenant S&P: A+
  • Moody’s: A1
  • Stock: NYSE: BMO

About Tenant

BMO Harris Bank, N.A., doing business as BMO Bank North America, is an American national bank. BMO is a traditional retail bank that offers a full range of deposit, lending, and investment...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 17,411 117,802 309,586
2023 Total Population : 17,798 120,034 314,187
2023 Employed Civilian Pop : 9,811 67,241 176,972
2023 Total Businesses : 713 4,825 13,648
2023 Average Household Income : $ 152,510 $ 138,868 $ 127,794
2023 Total Consumer Spending : $ 956 M $ 5686 M $ 13744 M
2023 Median Age : 45 45 42
2023 Total Households : 7,461 48,530 126,693
2023 Pop Age 25+: Bachelor's Degree : 4,668 29,844 73,050
2023 Average Home Value : $ 446,864 $ 394,897 $ 373,463
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Euclid Avenue N Ridge Ave 2022 10,800 0.03 mi
West Euclid Avenue W Northwest Hwy 2022 13,400 0.08 mi
W Northwest Hwy N Salem Ave 2013 14,400 0.12 mi
North Walnut Avenue Vine St 2022 1,450 0.13 mi
North Walnut Avenue W Northwest Hwy 2018 1,900 0.14 mi
Euclid Ave W Davis St 2018 75 0.15 mi
West Euclid Avenue N Kennicott Ave 2018 14,900 0.21 mi
Euclid Ave W Hawthorne St 2006 17,600 0.24 mi
N Kennicott Ave W Northwest Hwy 2014 1,350 0.26 mi
North Ridge Avenue Miner St 2022 2,450 0.28 mi

Listing Broker

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