Walgreens

3220 West 111th Street, Chicago, IL 60655

$7,698,413

Cap Rate 6.30%

Views: 26 DOM: 44 Updated: 05.14.24 Posted: 04.03.24 Status: Active

Summary

Price $7,698,413	Built/Renov 2010	Tenant Walgreens
Cap Rate 6.30%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 13,650	Lease Start 10-12-2010	#Units 8,896
Price/SF $563.99	Expiration 10-31-2035	Tenant Type Pharmacy
NOI $485,000	R. Term 11.5	Ownership Fee Simple
Rent/SF $35.53	Increases 0.0%/0/yrs	Pop 5Mi 465,929
Lot/AC 1.44	Options 10/5yrs	AHHI 5Mi $78,394

Jesse Limon

Marcus & Millichap

Contact

Lease Highlights

Walgreens has been operating in this location since 2010
The tenant has 11+ years remaining on the current lease term with 10 (5-year) options to extend
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of 111th Street and Kedzie Avenue, with access to a combined daily traffic count of 31,250 vehicles. The property is located in a dense suburban corridor, surrounded by well-known national retailers such as Wendy’s, Raising Cane’s, Dunkin’, Burger King, Dollar Tree, True Value, U.S. Bank, and more. Additionally,...

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Key Features

Signalized intersection
In location for years
Near major nationals
Strategically located
Top 100 MSA
Strong demographics
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Chicago, Illinois Zip Code 60655 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walgreens
Guarantor:Corp T and Rated
Company:Walgreens Boots Alliance
# Units:8,896
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
2028 Total Population :	21,020	150,328	435,442
2023 Total Population :	21,646	154,408	446,116
2023 Employed Civilian Pop :	11,404	76,305	199,295
2023 Total Businesses :	381	4,320	10,593
2023 Average Household Income :	$ 127,711	$ 104,979	$ 86,398
2023 Total Consumer Spending :	$ 890 M	$ 5412 M	$ 12586 M
2023 Median Age :	40	41	40
2023 Total Households :	8,260	60,385	169,065
2023 Pop Age 25+: Bachelor's Degree :	3,773	23,859	52,008
2023 Average Home Value :	$ 307,641	$ 277,283	$ 246,122

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
111th St	S Sawyer Ave	2021	14,600	0.04 mi
W 111th St	S Sawyer Ave	2014	16,700	0.04 mi
S Kedzie Ave	W 108th Pl	2014	17,400	0.28 mi
W 112th St	S Whipple St	2014	275	0.28 mi
W 111th St	S Whipple St	2014	18,500	0.28 mi
111th St	S Sacramento Ave	2021	16,200	0.32 mi
South Kedzie Avenue	W 114th St	2018	13,800	0.40 mi
		2022	2,450	0.51 mi
West 115th Street	S Karlov Ave	2022	10,900	0.53 mi
W 115th St	Troy Ave	2014	10,600	0.54 mi

Listing Broker

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