Walgreens - Chicago, IL

953 W Irving Park Rd Chicago , IL 60613-2923

Walgreens - Chicago, IL - Retail for sale

Overview


JLL is pleased to offer for sale an absolute NNN-leased Walgreens (the Property), located in Chicago, Illinois. With over 18 years of firm term remaining to an investment-grade tenant and zero landlord responsibilities, the offering represents a generational, passive investment opportunity. The Propertys location is truly irreplaceable, as it is situated only 0.5-mile west of Chicagos iconic Lake Shore Drive along W Irving Park Road, 0.4-mile north of Wrigley Field (home to 2016 World Series champions Chicago Cubs), and directly off the Sheridan Station platform of the Red Line (Chicagos most traveled L rail line). Thorek Memorial Hospital, a 218-bed, acute care facility that has been serving Chicagoans since 1911, is less than one block directly to the east. The Property boasts a highly visible, hard corner location within the dense and affluent Lakeview/Wrigleyville neighborhood. Apart from the adjacent L station, there is also a Divvy (Chicagos bike sharing system) docking station with 25 docks in front of the Property. Given the Propertys Walk Score of 93, a Walkers Paradise, this Walgreens also receives a substantial amount of foot traffic from area residents. There are over 82,000 people within a 1-mile radius, and the average HHI in this same area is $106,508.

Investment Highlights


-Absolute NNN Lease with Over 18 Years of Initial Term
-Dense, Infill, Transit-Oriented Location
-Strong Credit Tenancy
-Highly Visible, Hard Corner
-Affluent Neighborhood
-Flexible Zoning
General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 953 W Irving Park Rd, Chicago, IL 60613-2923
Land In Acres 0.45
Building Size 10,017  ft2
Financial
Price $10,213,592
Cap Rate 5.15%
Current NOI $526,000.00
Lease
Tenant's Name Walgreens Company
Lease Type NNN
Lease Expiration Date 08/31/2036
Remaining Term 17.4Yrs