BMO Harris Bank in Hoffman Estates to be replaced by smaller building, strip mall
The approximately 45-year-old BMO Harris Bank across Higgins Road from Hoffman Estates High School will be replaced by a smaller bank building on the west side of its property and a multi-tenant retail building where the current bank lies.
The two-story, 11,200-square-foot building at 1400 Gannon Dr. will be razed once its 4,700-square-foot replacement to the west is occupied, developers told Hoffman Estates officials this week.
There is then expected to be a wait of a year and a half before construction begins on the planned 12,577-square-foot retail building along Gannon Drive. The building would have space for up to seven separate tenants and a potential drive-through at its east end.
The retail building would sit on 1.4 acres and the new bank on just under an acre.
Though Hoffman Estates village board members approved the overall plan Monday, they required the developers to go through a final site plan approval process before beginning any work on the retail building.
Among other conditions of the approval, the old bank building is required to be demolished and replaced with grass within six months after the new bank is occupied. If the retail building isn't constructed within two years after demolition of the old bank, three additional trees must be planted along the east wall of the new bank.
Though the developer's plans indicate a willingness to start construction of the new bank almost immediately, the village board's approval is contingent on the building permit being obtained within a year.