Hi bobgoldstein,
So the model of AirPort Extreme Base station you have will not support 802.11ac wireless networking. The best data rate it will get over Wi-Fi is 450 Mbps, or roughly a third of what the newer model will get, and a bit less than half of the speed of using wired Ethernet. I would suggest using Ethernet if at all possible - you do mention that they are near each other so a wired connection should not be difficult. If you want to use Wi-Fi and have that speed you will need to get the newer model of AirPort Extreme Base Station.
Again, for reference see this page -
Apple - Mac - AirPort Extreme
One other thing I should mention here. If you are using this network mainly for accessing the Internet, your speed is more likely to be limited by the speed of your Internet connection. For example, if you only get 50 Mbps from your Internet service provider to the AirPort, you won't get anything faster to your iMac no matter what you use. If you are sending data between devices on your local network, however, then the differences can be significant.
Best,
Brett