Freestanding Bank Branch
10500 West Cermak Road Westchester, IL 60154
10500 West Cermak Road, Westchester, IL, 60154
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For Sale
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Freestanding, single-tenant bank branch net-leased on an absolute NNN basis to BMO Bank N.A.
Property Size11,457 SF
Price / SF$288.03
Days on Market23
Property Features for 10500 West Cermak Road
General Information
- Standard status
- Active
- Size
- 11,457 SF
- Property subtype
- Retail, Office
Building Details
- Year Built
- 1964
Listing agency
CBRE - Chicago
Listed by
Maury Vanden Eykel · License #IL
Source
Crexi
Added: Jun 29 Updated: Jul 21 at 11:50AM Checked: Jul 21 at 11:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Chicago
Investment Insights
Based on property information with market context.
CBRE, as exclusive advisor, is pleased to offer the fee-simple interest in a freestanding, single-tenant retail bank branch net-leased to BMO Bank N.A. The asset is operated by BMO Financial Group’s U.S. banking arm and has operated continuously as a bank since 1964. The offering is structured as an absolute-NNN investment.
The branch is located on a signalized hard corner along Cermak Road and is positioned adjacent to a Jewel-Osco within an established retail corridor.
BMO Bank N.A. has recently reaffirmed its commitment through a lease renewal extending to November 30, 2031.
The branch is located on a signalized hard corner along Cermak Road and is positioned adjacent to a Jewel-Osco within an established retail corridor.
BMO Bank N.A. has recently reaffirmed its commitment through a lease renewal extending to November 30, 2031.
Key Highlights
- Freestanding, single‑tenant retail bank branch net‑leased to BMO Bank N.A. on an absolute NNN basis
- BMO branch has operated continuously as a bank since 1964
- Located at 10500 W Cermak Road in Westchester, Illinois on a signalized hard corner
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $226.8k | $19.80 |
| − Vacancy | −$14.7k | −$1.29 |
| EGI | $212.1k | $18.51 |
| − OpEx | −$53.0k | −$4.63 |
| NOI | $159.1k | $13.88 |
11,457 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.27M
$1.99M – $2.65M
NOI $159,078 @ 7.0% cap · market cap 4.82%
Second Best
Retail
$1.90M
$1.66M – $2.21M
NOI $132,810 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,905 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Banks
Similar For Sale Nearby
FAQs
What type of property is this?
Bank - Freestanding, single-tenant bank branch net-leased on an absolute NNN basis to BMO Bank N.A.
Where is this bank located?
The property is located at 10500 West Cermak Road Westchester, IL.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Freestanding, single‑tenant retail bank branch net‑leased to BMO Bank N.A. on an absolute NNN basis; BMO branch has operated continuously as a bank since 1964; Located at 10500 W Cermak Road in Westchester, Illinois on a signalized hard corner
