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Views: 98 DOM: 505 Updated: 07.03.24 Posted: 02.23.23 Status: Active

Summary

Price $4,154,000
Built/Renov 2001
Tenant Walgreens
Cap Rate 6.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 15,022
Lease Start 12-29-2001
#Units 13,532
Price/SF $276.53
Expiration 12-31-2026
Tenant Type Pharmacy
NOI $270,000
R. Term 2.5
Ownership Fee Simple
Rent/SF $17.97
Increases 0.0%/0/yrs
Pop 5Mi 168,423
Lot/AC 0.35
Options 7/5yrs
AHHI 5Mi $102,890

Lease Highlights

  • Walgreens has been operating in this location since 2001
  • There are over 3 years remaining on the current lease with 7 (5-year) options to extend
  • Favorable NN+ lease – Limited landlord responsibilities
  • Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

Walgreens is positioned at the signalized, hard corner intersection of Grand Avenue and Riverside Drive which has over 29,500 VPD and is located just off Interstate 94 which sees over 90,400 VPD. Located along a major thoroughfare, nearby major national tenants include Target, Lowe’s Home Depot, Best Buy, DSW, TJ Maxx, Michael’s, Kohl’s, HomeGoods, Pet Smart and many more. The site also...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 5,665 57,716 166,211
2023 Total Population : 5,556 58,517 169,032
2023 Employed Civilian Pop : 3,009 31,093 83,137
2023 Total Businesses : 366 2,418 4,903
2023 Average Household Income : $ 105,585 $ 113,162 $ 105,869
2023 Total Consumer Spending : $ 223 M $ 2202 M $ 5463 M
2023 Median Age : 38 36 35
2023 Total Households : 2,468 22,691 59,994
2023 Pop Age 25+: Bachelor's Degree : 1,224 10,087 22,255
2023 Average Home Value : $ 244,957 $ 279,795 $ 276,019
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Grand Ave N Riverside Dr 2013 24,600 0.06 mi
N Riverside Dr Grand Ave 2013 11,000 0.08 mi
Grand Ave N Riverside Dr 2009 29,000 0.09 mi
Grand Avenue Milwaukee Ave 2019 18,800 0.10 mi
Milwaukee Avenue Grand Ave 2019 5,150 0.11 mi
North Riverside Drive Grand Ave 2019 13,900 0.12 mi
IL 21 2021 9,700 0.21 mi
N Riverside Dr South Rd 2009 23,300 0.21 mi
IL 132 2021 21,500 0.25 mi
N Riverside Dr Milwaukee Ave 2009 23,300 0.25 mi

Listing Broker

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