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DOM: 391 Updated: 11.02.24 Posted: 04.13.24 Status: Active

Summary

Price $4,724,409
Built/Renov 2005
Tenant Walgreens
Cap Rate 6.35%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,547
Lease Start 09-01-2005
#Units 13,532
Price/SF $324.77
Expiration 03-31-2034
Tenant Type Pharmacy
NOI $300,000
R. Term 8.10
Ownership Fee Simple
Rent/SF $20.62
Increases 0.0%/0/yrs
Pop 5Mi 127,219
Lot/AC 2.02
Options 10/5yrs
AHHI 5Mi $88,884

Lease Highlights

  • Walgreens has been operating in this location since 2005
  • The tenant has 9+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Green Bay Road and Wadsworth Road, with access to a combined daily traffic count of 27,700 vehicles. The property holds a competitive advantage in the area, with limited competition nearby. Situated adjacent to Waukegan National Airport and surrounded by numerous single-family communities, the property is...

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Maps

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  • 1 Mile
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  • 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 : 3,563 58,162 125,299
2023 Total Population : 3,669 58,921 127,219
2023 Employed Civilian Pop : 1,894 28,935 62,635
2023 Total Businesses : 104 1,084 3,374
2023 Average Household Income : $ 113,848 $ 88,990 $ 88,884
2023 Total Consumer Spending : $ 126 M $ 1606 M $ 3508 M
2023 Median Age : 40 36 35
2023 Total Households : 1,308 20,963 45,762
2023 Pop Age 25+: Bachelor's Degree : 561 5,557 12,798
2023 Average Home Value : $ 292,399 $ 223,449 $ 232,394
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Wadsworth Rd Northern Ave 2011 12,100 0.07 mi
Green Bay Rd Bible Baptist Dr 2014 13,300 0.08 mi
IL 131 W Wadsworth Rd 2021 15,600 0.18 mi
W Wadsworth Rd Cambridge Blvd 2011 11,300 0.37 mi
W Wadsworth Rd Cambridge Blvd 2007 11,800 0.61 mi
W Wadsworth Rd N Pine Grove Ave 2007 11,800 0.79 mi
Green Bay Rd Clarendon Rd 2014 13,300 0.81 mi
W Wadsworth Rd N Lewis Ave 2011 12,100 0.92 mi
Green Bay Rd W 29th St 2013 9,650 0.98 mi
W 33rd St 33rd St 2011 2,050 1.01 mi

Listing Broker

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Jimmy Goodman

The Boulder Group (HQ)

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  • 168 Listings
  • 26600 Views
  • 76 Sold
Randy Blankstein

The Boulder Group (HQ)

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  • 165 Listings
  • 25907 Views
  • 70 Sold

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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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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