Walgreens (GL)

7109 South Jeffery Boulevard, Chicago, IL 60649

$4,241,552

Cap Rate 7.15%

Views: 23 DOM: 66 Updated: 05.05.24 Posted: 03.11.24 Status: Active

Summary

Price $4,241,552	Built/Renov 2006	Tenant Walgreens (GL)
Cap Rate 7.15%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 17,500	Lease Start 03-06-2006	#Units 8,896
Price/SF $242.37	Expiration 03-06-2031	Tenant Type Pharmacy
NOI $303,271	R. Term 6.9	Ownership Ground Lease
Rent/SF $17.33	Increases 0.0%/0/yrs	Pop 5Mi 451,782
Lot/AC 0.73	Options 10/5yrs	AHHI 5Mi $64,127

Lease Highlights

Walgreens has been operating in this location since 1983
The tenant has 6+ years remaining on the current ground lease term with 10 (5-year) options to extend
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Jeffery Blvd. and E 71st Street, with access to a combined daily traffic count of 24,700 vehicles. The property is located on an outparcel in Jeffery Plaza, a grocery-anchored shopping center with national tenants including Chase Bank, Domino’s Pizza, Subway, & Rent-A-Center, and more. Additionally, the site is...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Shopping Ctr out-parcel
Dense 200M+ pop 5 mi
Top 100 MSA
Long operation history
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Chicago, Illinois Zip Code 60649 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walgreens
Guarantor:Corp T and Rated
Company:Walgreens Boots Alliance
# Units:8,896
Tenant S&P: BBB-
Moody’s: Baa2
Stock: NASDAQ: WBA

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	45,558	229,255	445,465
2023 Total Population :	46,281	231,862	451,782
2023 Employed Civilian Pop :	20,453	98,438	179,587
2023 Total Businesses :	657	4,147	7,760
2023 Average Household Income :	$ 59,240	$ 66,757	$ 64,127
2023 Total Consumer Spending :	$ 1151 M	$ 6212 M	$ 10966 M
2023 Median Age :	40	39	38
2023 Total Households :	22,209	106,384	195,154
2023 Pop Age 25+: Bachelor's Degree :	5,381	28,094	49,387
2023 Average Home Value :	$ 260,618	$ 293,886	$ 267,840

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
South Jeffery Boulevard	E 71st St	2018	16,200	0.02 mi
South Jeffery Boulevard	S South Chicago Ave	2022	10,300	0.03 mi
South Chappel Avenue	E 67th St	2022	7,350	0.05 mi
South Chappel Avenue	S Chappel Ave	2018	600	0.05 mi
South Clyde Avenue	E 71st St	2018	500	0.11 mi
S Jeffery Blvd	E 70th St	2006	24,700	0.11 mi
S Clyde Ave	Alley	2010	1,450	0.12 mi
S Euclid Ave	E 72nd St	2010	450	0.14 mi
South Merrill Avenue	E 71st St	2018	1,050	0.17 mi
South Bennett Avenue	E 71st St	2018	700	0.18 mi

Listing Broker

Jimmy Goodman

The Boulder Group

Contact

146 Listings
6506 Views
46 Sold

Randy Blankstein

The Boulder Group

Contact

138 Listings
5958 Views
46 Sold

Jimmy Goodman

Goodman is a partner at The Boulder Group, with over 15 years of experience in the investment real estate sector. His career began at PricewaterhouseCoopers in 2001 and afterward, he has been solely focused on investment real estate. He has been featured in multiple publications including Globe Street, Commercial Property Executive, Real Estate Forum and was a featured speaker at Real Share’s Net Lease Conference. He is a member of the International Council of Shopping Centers and received a Ba

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Randy Blankstein

President of The Boulder Group, Blankstein is a senior commercial real estate executive with over 30 years of experience focused on advisory services in the single tenant net lease sector. Led The Boulder Group to a top 10 company national ranking for single tenant retail transactions by both CoStar and Real Capital Analytics from 2010-2021. Founded and managed net leased companies on both the advisory and principal sides that have been involved in over $7 billion in single tenant transaction

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