405 - 407 S 1st Street, Unit 109
Equity Investment Advisors is pleased to offer for sale a new 10-year absolute NNN leased investment with 2% annual rental increases. The ground floor condominium asset is leased to BMO Harris Bank N.A. (BMO), the United States operating arm and subsidiary of the Bank of Montreal (BMO Financial Group), a diversified financial services provider with total assets exceeding $525 billion.
This property was built to serve as the main St. Charles BMO's sole drive-thru in downtown St. Charles. This ground floor condominium asset located on the southern end of a mixed use multi-family, office, and retail building is pedestrian friendly and also features five drive-thrus and four parking spaces. The property's two forms of signage enhance visibility for this in-line location.
Situated in a densely populated, affluent community, the surrounding retail area is driven by local boutique shops and restaurants. Highlighting these retailers is the adjacent Blue Goose Market, which has prided itself on being the finest grocery store in St. Charles for over 80 years.
Strong demographics will drive performance at this branch for many years to come. Over 11,000 residents reside within one mile of the property with an average household income of approximately $94,000, well above the national average. The prominence of BMO in St. Charles, and this property as its only downtown drive-thru location, also supports the long-term tenancy.
The Chicago suburb of St. Charles is 35 miles west of Chicago. Illinois Rt. 64 provides great access to and from the Windy City.
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