Leased Bank Condominium
For Sale
Contact for pricing
50 N Brockway St, Palatine, IL 60067
Condominium leased to BMO Harris Bank, offering three of five building floors with drive-thru exclusive use.
Property Size15,188 SF
Days on Market144
Property Features for 50 N Brockway St
General Information
Standard status
Active
Size
15,188 SF
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Stories
5
Tenancy
Single
Listing Agency:
The Boulder Group
(847) 562-0003
Listed By:
Randy Blankstein · License #IL 471005983
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 22 at 8:01AM
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 The Boulder Group
Investment Insights
Based on property information with market context.
This offering is a condominium leased to BMO Harris Bank, providing access to three of the building’s five floors. BMO Harris Bank recently executed a renewal option that extends the lease for the basement and first floor through April 2033, and the second-floor lease runs through April 2028. The leases include 3% annual rental escalations throughout the remaining term and renewal options. The tenant also has exclusive use of the drive-thru.
The 15,188-square-foot condominium is situated in downtown Palatine just off East Palatine Road and North Smith Street. The property benefits from nearby proximity to the Palatine Train station on the Union Pacific Northwest Line (UP-NW), described as Metra’s second busiest weekdays, and is also within a short drive of both North Hicks Road and Interstate 290.
For 2022, branch deposits at this location surpassed $740 million. The immediate area includes retailers and professional/financial tenants such as Jewel-Osco, State Farm, Edward Jones, Pan American Bank & Trust, and Warren Johnson Architects.
The 15,188-square-foot condominium is situated in downtown Palatine just off East Palatine Road and North Smith Street. The property benefits from nearby proximity to the Palatine Train station on the Union Pacific Northwest Line (UP-NW), described as Metra’s second busiest weekdays, and is also within a short drive of both North Hicks Road and Interstate 290.
For 2022, branch deposits at this location surpassed $740 million. The immediate area includes retailers and professional/financial tenants such as Jewel-Osco, State Farm, Edward Jones, Pan American Bank & Trust, and Warren Johnson Architects.
Key Highlights
- 15,188 SF condominium leased to BMO Harris Bank, offering 3 of the building’s 5 floors
- Lease extended through April 2033 for the basement and first floor; renewal option executed a few years early
- Second‑floor lease extension runs through April 2028, with 3% annual rental escalations throughout the remaining term and renewal options
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,305
Businesses Nearby
33k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 98%
Shops & Services 2%
Jewel-Osco
Groceries
32,439 visits/mo
0.3 miles
U-Haul Neighborhood Dealer
Shops & Services
778 visits/mo
0.4 miles
Demographics for 60067, IL
39,324
Population
16,039
Households
2.5
Avg Household Size
43
Median Age
59%
College-Educated
96%
High-School Grad
13.0 sq mi
ZIP Area
3,025
Density / Sq Mi
$121,572
Median Household Income
$64,520
Median Earnings
$1,521
Median Rent
$427,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Bank - Condominium leased to BMO Harris Bank, offering three of five building floors with drive-thru exclusive use.
Where is this bank located?
The property is located at 50 N Brockway St Palatine, IL.
What are key features of this property?
This property features: 15,188 SF condominium leased to BMO Harris Bank, offering 3 of the building’s 5 floors; Lease extended through April 2033 for the basement and first floor; renewal option executed a few years early; Second‑floor lease extension runs through April 2028, with 3% annual rental escalations throughout the remaining term and renewal options
