Freestanding Bank Branch
For Sale
Contact for pricing
10500 West Cermak Road, Westchester, IL 60154
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 Market115
Property Features for 10500 West Cermak Road
General Information
Standard status
Active
Size
11,457 SF
Total Parking Spaces
70
Property subtype
Retail, Office
Zoning
B-1
Lease Type
Absolute Net
Net Operating Income
$239,334
Building Details
Year Built
1964
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
CBRE - Chicago
Listed By:
Maury Vanden Eykel · License #IL
Source:
Crexi
Added: Jun 29
Changed: Oct 9
Last Checked: Oct 20 at 6:12PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$159,078
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,181,560
$3.2M
Cap Rate 7%
$2,272,543
$2.3M
Cap Rate 9%
$1,767,533
$1.8M
Market Conditions
NOI Build-Up for 11,457 SF
Gross rent
$226.8K $19.80/SF
− Vacancy
−$14.7K −$1.29/SF
EGI
$212.1K $18.51/SF
− OpEx
−$53.0K −$4.63/SF
NOI
$159.1K $13.88/SF
Area
Springfield, IL
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,181,560
Cap Rate 7%
$2,272,543
Cap Rate 9%
$1,767,533
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 authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Home Improvements & Furnishings 22%
BMO Harris Bank
Shops & Services
2,433 visits/mo
0.3 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
695 visits/mo
0.3 miles
Demographics for 60154, IL
16,895
Population
7,376
Households
2.3
Avg Household Size
48
Median Age
46%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
3,840
Density / Sq Mi
$103,561
Median Household Income
$60,967
Median Earnings
$1,767
Median Rent
$297,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
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
