2005 Walter Payton Memorial Hwy Plano, IL 60545
- Retail properties
- 10,000 SF
- 2.67 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2005 Walter Payton Memorial Hwy
- Year built
- 1992
- Lot size
- 2.67 lot acres
- Property size
- 10,000 SF
- Property type
- Retail properties
- Property subtype
- Banks
Description
This exceptional investment opportunity presents a fee-simple, single-tenant, 10,000 square foot bank building located at 2005 Walter Payton Memorial Hwy, Plano, IL 60545. The property boasts a 100% occupancy rate with BMO Harris Bank, a tenant with an A+ credit rating and over $940 billion in assets (as of April 2023). The absolute NNN lease, featuring 7.5% rent bumps in options, provides zero landlord responsibilities. The lease has a remaining term of 1.2 years, with eight 5-year option periods. The asking price is $2,320,475, representing a compelling $232.05 per square foot and a 7.50% cap rate. Built in 1992 on a 2.67-acre lot, this one-story building benefits from its prime location along a high-traffic highway, surrounded by national retailers like Walmart and Aldi. Plano, IL, approximately 50 miles west of Chicago, exhibits consistent population growth and boasts an average household income exceeding $100,000 within a 5-mile radius. BMO Harris Bank holds approximately 58% of the total deposit market share in the Plano area, demonstrating the strength and stability of this location. This property offers a secure, high-return investment with significant long-term potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Plano
- County
- Kendall
- State
- Illinois
- Longitude
- -88.5491
- Latitude
- 41.6589
