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DOM: 277 Updated: 07.31.24 Posted: 07.31.24 Status: Active

Summary

Price $4,127,000
Built/Renov 2009
Tenant Walgreens
Cap Rate 8.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,580
Lease Start 07-13-2009
#Units 13,532
Price/SF $303.90
Expiration 07-31-2034
Tenant Type Pharmacy
NOI $357,000
R. Term 9.3
Ownership Fee Simple
Rent/SF $26.29
Increases 0.0%/0/yrs
Pop 5Mi 22,710
Lot/AC 1.36
Options 50/1yrs
AHHI 5Mi $81,903

Lease Highlights

  • Walgreens has been operating in this location since 2009
  • The tenant has 10 years remaining on the current lease term with 50 (1-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 West Chicago Blvd and Occidental Road, with access to a combined daily traffic count of 40,200 vehicles. The property is situated just a few blocks from Tecumseh High School, which has an enrollment of 770 students. Additionally, it is two parcels away from Tecumseh Plaza, which includes well-known national...

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Tenant

  • Tenant: Walgreens
  • Guarantor:Corp T and Rated
  • Company:Walgreens Boots Alliance
  • # Units:13,532
  • 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
2029 Total Population : 4,388 13,881 23,777
2024 Total Population : 4,340 13,692 23,492
2024 Employed Civilian Pop : 2,046 6,471 10,993
2024 Total Businesses : 112 466 703
2024 Average Household Income : $ 102,551 $ 105,207 $ 102,830
2024 Total Consumer Spending : $ 164 M $ 529 M $ 855 M
2024 Median Age : 44 44 44
2024 Total Households : 1,839 5,767 9,494
2024 Pop Age 25+: Bachelor's Degree : 451 1,847 3,208
2024 Average Home Value : $ 248,158 $ 278,037 $ 268,161
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Chicago Boulevard N Occidental Hwy 2022 11,950 0.04 mi
M-50 N Occidental Hwy 2020 10,345 0.04 mi
W Chicago Blvd 2022 8,577 0.05 mi
100 FEET SOUTH OF M-50 (CHICAGO BLVD) W Chicago Blvd 2021 8,815 0.05 mi
W Chicago Blvd 2022 5,066 0.07 mi
100 FEET NORTH OF M-50 CHICAGO BLVD) W Chicago Blvd 2021 5,207 0.07 mi
M 50 W Chicago Blvd 2021 13,709 0.09 mi
West Chicago Boulevard N Occidental Hwy 2022 13,915 0.09 mi
E Monroe Rd W Chicago Blvd 2015 14,800 0.12 mi
Carriage Dr 2022 4,701 0.23 mi

Listing Broker

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Aron Cline

Berkeley Capital Advisors

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  • 177 Listings
  • 48449 Views
  • 59 Sold
Calvin Short

Berkeley Capital Advisors

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  • 187 Listings
  • 50494 Views
  • 61 Sold

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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