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Drug Store

Absolute Triple Net Walgreens | Chicago MSA

11200 W Laraway Rd, Frankfort, IL 60423

Listing Price: $4,924,242

Cap Rate
6.60%
Tenant Name
Walgreens
Years Remaining On Lease
5.7
Guarantor
Corporate Guarantee
Rentable SF
14,719
Lease Type
Absolute Net
Rent Per Square Feet
$22.08

Investment Overview

Subject is a Prime 14,709 Square-Foot Build-to-Suit Walgreens on a 1.72-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress, Strategically Located on a Signalized Intersection Absolute NNN Lease with a 25-Year Base Term and Zero Landlord Responsibility | Over Five Years Remaining and 10 x 5-Year Options

Investment Highlights

  • Robust Traffic Counts on Laraway Road (10,302 VPD) and Wolf Road (6.809 VPD), a Half Mile off of South La Grange Road (15,506 VPD) (Source: LandVision, CoStar, 2022)
  • Investment-Grade Credit Tenant Walgreens Boots Alliance (NASDAQ: WBA) has a Long-Term Stable Credit Rating of Baa2 (Stable) from Moody's and Investment Grade Rating of BBB (Stable) from S&P
  • High Growth Area | Nearby National Retailers Include: JC Penney, Bed Bath & Beyond, Meijer, Kohl's, Panera Bread, Office Depot, Chase, Chipotle, CVS, US Bank, and Others
  • Affluent Community with an Average Household Income of Over $154K within Five Miles of the Subject Asset, as of 2022
  • Subject is 27 Miles from Chicago Midway International Airport, Serving Over 20 Million Passengers Annually and 36 Miles from Downtown Chicago with a Population of 2.7 Million
  • Parks and Outdoor Recreational Facilities Nearby Include: Hickory Creek Preserve, Hallmark Sports Club, Prestwick Country Club, Sauk Trail Reservoir, Sanctuary Golf Course, and More

Exclusively Listed By

  • Jesse Limon

    Licensed Real Estate Salesperson

    (212) 430-5291

    Email Jesse

    License(s): IN: RB14048415, NY: 10401271892

    Manhattan

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Drug Store

Absolute Triple Net Walgreens | Chicago MSA

Listing Price: $4,924,242

Cap Rate
6.60%
Tenant Name
Walgreens
Years Remaining On Lease
5.7
Guarantor
Corporate Guarantee
Rentable SF
14,719
Lease Type
Absolute Net
Rent Per Square Feet
$22.08

Investment Highlights

  • Robust Traffic Counts on Laraway Road (10,302 VPD) and Wolf Road (6.809 VPD), a Half Mile off of South La Grange Road (15,506 VPD) (Source: LandVision, CoStar, 2022)
  • Investment-Grade Credit Tenant Walgreens Boots Alliance (NASDAQ: WBA) has a Long-Term Stable Credit Rating of Baa2 (Stable) from Moody's and Investment Grade Rating of BBB (Stable) from S&P
  • High Growth Area | Nearby National Retailers Include: JC Penney, Bed Bath & Beyond, Meijer, Kohl's, Panera Bread, Office Depot, Chase, Chipotle, CVS, US Bank, and Others
  • Affluent Community with an Average Household Income of Over $154K within Five Miles of the Subject Asset, as of 2022
  • Subject is 27 Miles from Chicago Midway International Airport, Serving Over 20 Million Passengers Annually and 36 Miles from Downtown Chicago with a Population of 2.7 Million
  • Parks and Outdoor Recreational Facilities Nearby Include: Hickory Creek Preserve, Hallmark Sports Club, Prestwick Country Club, Sauk Trail Reservoir, Sanctuary Golf Course, and More

Investment Overview

Subject is a Prime 14,709 Square-Foot Build-to-Suit Walgreens on a 1.72-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress, Strategically Located on a Signalized Intersection Absolute NNN Lease with a 25-Year Base Term and Zero Landlord Responsibility | Over Five Years Remaining and 10 x 5-Year Options

Exclusively Listed By

  • Jesse Limon

    Licensed Real Estate Salesperson

    (212) 430-5291

    Email Jesse

    License(s): IN: RB14048415, NY: 10401271892

    Manhattan

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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