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Views: 90 Updated: 06.13.24 Posted: 04.03.24 Status: Inactive 10.23.24

Summary

Price $7,578,000
Built/Renov 2010
Tenant Walgreens
Cap Rate 6.40%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,650
Lease Start 10-12-2010
#Units 13,532
Price/SF $555.16
Expiration 10-31-2035
Tenant Type Pharmacy
NOI $485,000
R. Term 10.10
Ownership Fee Simple
Rent/SF $35.53
Increases 0.0%/0/yrs
Pop 5Mi 465,929
Lot/AC 1.44
Options 10/5yrs
AHHI 5Mi $78,394

Lease Highlights

  • Walgreens has been operating in this location since 2010
  • The tenant has 11+ years remaining on the current 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 111th Street and Kedzie Avenue, with access to a combined daily traffic count of 31,250 vehicles. The property is located in a dense suburban corridor, surrounded by well-known national retailers such as Wendy’s, Raising Cane’s, Dunkin’, Burger King, Dollar Tree, True Value, U.S. Bank, and more. Additionally,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 21,020 150,328 435,442
2023 Total Population : 21,646 154,408 446,116
2023 Employed Civilian Pop : 11,404 76,305 199,295
2023 Total Businesses : 381 4,320 10,593
2023 Average Household Income : $ 127,711 $ 104,979 $ 86,398
2023 Total Consumer Spending : $ 890 M $ 5412 M $ 12586 M
2023 Median Age : 40 41 40
2023 Total Households : 8,260 60,385 169,065
2023 Pop Age 25+: Bachelor's Degree : 3,773 23,859 52,008
2023 Average Home Value : $ 307,641 $ 277,283 $ 246,122
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
111th St S Sawyer Ave 2021 14,600 0.04 mi
W 111th St S Sawyer Ave 2014 16,700 0.04 mi
S Kedzie Ave W 108th Pl 2014 17,400 0.28 mi
W 112th St S Whipple St 2014 275 0.28 mi
W 111th St S Whipple St 2014 18,500 0.28 mi
111th St S Sacramento Ave 2021 16,200 0.32 mi
South Kedzie Avenue W 114th St 2018 13,800 0.40 mi
2022 2,450 0.51 mi
West 115th Street S Karlov Ave 2022 10,900 0.53 mi
W 115th St Troy Ave 2014 10,600 0.54 mi

Listing Broker

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