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Views: 141 DOM: 148 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 9.7
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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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

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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