$1 Auction - REIT SALE | Former BMO Bank 2505 N Farnsworth Ave Local commercial 540 m² À vendre Aurora, IL 60502 43 430 € (80,36 €/m²)

Marcus & Millichap is pleased to present a vacant, free-standing, retail building located at 2505 Farnsworth Avenue, Aurora, IL 60502 (the “Property”). Located in the Chicago MSA, the Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount. FIRST BID MEETS RESERVE!
Built in 2005, the Property is improved with a one-story, free-standing, single tenant building totaling ±5,817 square feet. The Property was formerly occupied by BMO Harris Bank on a triple net lease and offers potential owner users/investors the ability to acquire a free-standing retail bank building with significant value add through lease up at long term market rates (CoStar estimated rents of $16-20/SF NNN). The Property is strategically positioned on a ±1.4 AC (±61,148 SF) hard corner parcel directly across from the new Hollywood Casino Development and is improved with a retail/office building with four (4) drive-thru lanes. This former BMO Harris Bank offers 29 surface parking spaces and is easily accessible via two points of ingress/egress along Farnsworth Avenue (±16,984 VPD) and Bilter Road (±7,634 VPD). The Property is Zoned PDD - Planned Development District, which offers favorable flexible zoning allowing for a variety of commercial and retail uses via adaptive reuse or repositioning. City of Aurora has acquired 3,370 SF of fee simple land from the property with a 4,228 SF Temporary Construction Easement in place and the monument sign being removed. See due diligence vault for details.
The Property is located in the Chicago metropolitan area within Kane County, approximately ±55 minutes from downtown Chicago. It is situated within the Western East/West Corridor submarket, a well-established and growing area west of the city with strong commercial, residential, and industrial fundamentals. Strategically positioned ±45 minutes from both O’Hare and Midway International Airports, the site offers excellent regional connectivity via Interstate 88 (±105,086 VPD) and Illinois Route 59 (±35,000 VPD). Educational demand drivers within a 1-mile radius include Metea Valley High School (±2,900 students) and a combined ±1,450 students enrolled across Steck Elementary and Cowherd Middle School, with Aurora University (±6,000 students) located just 10 minutes away. The Property sits directly across from the highly anticipated Hollywood Casino redevelopment and is positioned just ±0.5 miles from Chicago Premium Outlets, one of the most visited shopping destinations in the region. Surrounding national retailers such as Starbucks, McDonald’s, Walmart, Walgreens and Chipotle contribute to consistent consumer traffic in the corridor. Aurora also benefits from a strong employment base anchored by US Foods, Amazon, International Paper, ALDI, Rush-Copley Medical Center, and other regional employers, supporting long-term daytime population and economic stability. The Property is located within a dense suburban trade area of ±56,071 residents with an average household income (AHHI) of ±$140,560 within 3-mi and over ±206k residents with an AHHI of $123,739 within 5-mi, reinforcing the site’s lasting appeal for both investors and owner/users.