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Views: 113 DOM: 222 Updated: 10.31.24 Posted: 05.13.24 Status: Active

Summary

Price $6,500,000
Built/Renov 2009
Tenant CVS Pharmacy (Dark)
Cap Rate 8.22%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,880
Lease Start 07-15-2009
#Units 9,395
Price/SF $597.43
Expiration 07-31-2035
Tenant Type Pharmacy
NOI $534,472
R. Term 10.7
Ownership Fee Simple
Rent/SF $49.12
Increases 0.0%/0/yrs
Pop 5Mi 513,875
Lot/AC 0.78
Options 10/5yrs
AHHI 5Mi $66,380

Lease Highlights

  • CVS (Dark) has been operating in this location since 2009
  • The tenant has 10+ 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

CVS Pharmacy is strategically located at the signalized, hard corner intersection of West 103rd Street and Halsted Street, with access to a combined daily traffic count of 47,454 vehicles. Halsted Street serves as a major north-south route through the city and is supported by major transportation lines. The closest transit option is a Chicago Transit bus station located immediately across the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CVS Pharmacy
  • Guarantor:Corp T and Rated
  • Company:CVS Health Corporation
  • # Units:9,395
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: CVS

About Tenant

CVS Pharmacy, Inc. is an American retail corporation and is the largest pharmacy chain in the United States by number of locations and total prescription revenue. CVS sells prescription drugs...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 22,922 175,464 462,611
2024 Total Population : 23,634 181,189 476,391
2024 Employed Civilian Pop : 8,942 75,342 200,641
2024 Total Businesses : 402 3,988 10,114
2024 Average Household Income : $ 82,914 $ 87,429 $ 79,627
2024 Total Consumer Spending : $ 654 M $ 5693 M $ 13630 M
2024 Median Age : 43 43 41
2024 Total Households : 8,908 73,611 192,877
2024 Pop Age 25+: Bachelor's Degree : 3,015 23,496 54,639
2024 Average Home Value : $ 249,125 $ 274,350 $ 263,089
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
IL 1 2021 18,800 0.04 mi
W 103rd St S Union Ave 2014 8,000 0.07 mi
South Lowe Avenue W 103rd St 2018 9,250 0.15 mi
West 103rd Street S Morgan St 2022 10,400 0.25 mi
West 101st Street S Sangamon St 2022 2,150 0.33 mi
South Normal Avenue W 103rd St 2018 9,100 0.34 mi
S Halsted St W 100th St 2013 22,600 0.35 mi
South Parnell Avenue W 90th St 2022 500 0.39 mi
S Parnell Ave W 101st St 2014 725 0.40 mi
West 103rd Street S Seeley Ave 2022 10,400 0.42 mi

Listing Broker

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