Walgreens - Chicago, IL

953 W Irving Park Road
Chicago, IL 60613

Marketing Materials

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 Property’s location is truly irreplaceable, as it is situated only 0.5-mile west of Chicago’s 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 (Chicago’s 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 (Chicago’s bike sharing system) docking station with 25 docks in front of the Property. Given the Property’s Walk Score® of 93, a “Walker’s 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.
  • Primary Broker

    Jack	Sullivan - Net Lease Broker
    Jack Sullivan
    (312) 228-3765

  • Secondary Broker(s)

    Alex Sharrin - Net Lease Broker
    Alex Sharrin
    312 228 3197

  • In-State Licensee

    Brian Shanfeld - Net Lease Broker
    Brian Shanfeld
    IL

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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
Property Address 953 W Irving Park Road
Chicago, IL 60613
Market IL-Chicago
Land In Acres 0.45
Building Size 10,017 Square Feet
Primary Use Drug Store
Year Built 2011
Tenancy Single-Tenant
Financial
Price $10,520,000
Price PSF $1,050.21
Cap Rate 5.00%
Current NOI $526,000
Lease
Tenant Name Walgreens
Lease Type NNN
Annual Rent $526,000
Lease Expiration Date 8/31/2036
Remaining Term 17.9Yrs