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BMO Bank N.A. | Chicago MSA (Kane County)

$1,406,200

170 N Mclean Blvd, Elgin, IL 60123

Active
Last Updated: 11/26/2025

6.5

Cap Rate

91,403

NOI

Details:
Cap Rate:    6.5%
NOI:    $91,403
Building Size:    3,990 sqft
Lot Area:    1.6073 acres
Occupancy:    100%
Year Built:    2003
Floors:    1
Highlights:
  • 3,990 SF Freestanding BMO Harris Bank Branch Situated on 1.61 Acres in Elgin, IL
  • Corporate Guaranteed Triple Net (NNN) Lease – Tenant Responsible for Taxes, Insurance, CAM, Roof & Structure
  • ±6 Years Remaining on the Current Term with Seven (7) Five-Year Renewal Options – Long-Term Tenant Commitment
  • Stable Annual Income Stream – BMO Harris is One of the Largest Financial Institutions in North America
  • Robust Deposit Base – Over $74 Million in Deposits, Demonstrating Strong Market Presence and Branch Performance
  • Prime Corner Location Along N McLean Blvd – High-Visibility Site Surrounded by Dense Residential and Retail Corridors
  • Built in 2003 – Modern, Well-Maintained Building Featuring a Full-Service Banking Layout with Multiple Drive-Thru Lanes
  • Located in the Heart of a Thriving Suburban Market Just 35 Miles Northwest of Downtown Chicago
  • Affluent Surrounding Demographics – Average Household Income Exceeds $100K Within 3 Miles and $121K Within 5 Miles
  • Strong Traffic Counts and Accessibility – Positioned Along Major Commuter Routes with Convenient Access to I-90 and U.S. Route 20
  • Ideal Opportunity to Acquire a Passive, Creditworthy Bank Asset in a Growing Chicago Submarket
Description:

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Located about 35 miles northwest of Chicago along the scenic Fox River, Elgin, Illinois is a vibrant and growing city that blends historic charm with modern development. With a population of approximately 114,797, it ranks as the sixth most populous city in Illinois. Elgin’s economy is diverse and well-established, supported by major employers in education, healthcare, finance, and manufacturing. The city’s downtown has experienced significant revitalization in recent years, featuring new townhouses, lofts, art galleries, and beautifully restored historic buildings that enhance its character and appeal.

Elgin is also known for its commitment to recreation and green spaces, offering residents access to over 100 parks, including the expansive 112-acre Lords Park and 121-acre Wing Park. The city’s recreation centers provide a range of amenities, from aquatic facilities to climbing walls and sports complexes. Architecturally, Elgin showcases an impressive variety of Victorian-era homes, cobblestone houses, and historic commercial structures that reflect its rich heritage.

Culturally, Elgin supports a thriving arts scene anchored by the renowned Elgin Symphony Orchestra, local theater companies, and vibrant community art venues. The city also leads in sustainability initiatives, becoming the first in Illinois to offer curbside textile recycling, along with programs promoting composting, rain-barrel use, and other environmentally friendly practices. Education is another key strength, with one of the state’s largest school districts serving local families, as well as reputable higher education options including Elgin Community College and Judson University.

Combining the convenience of proximity to Chicago with the beauty of riverfront parks, a strong cultural presence, and a sustainable outlook, Elgin stands out as a dynamic and inviting community to live, work, and visit.

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