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Drug Store

Walgreens | 6.95% Cap | Chicago MSA

399 Lake Marian Rd, Carpentersville, IL 60110

Listing Price: $3,604,403

Cap Rate
6.95%
Tenant Name
Walgreens
Years Remaining On Lease
5.8
Gross SF
13,776
Guarantor
Corporate Guarantee
Rentable SF
13,776
Price/Gross SF
$261.64
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.18

Investment Overview

Situated as an outparcel to a bustling Walmart Supercenter, this property boasts a prime location within a vibrant shopping center that features well-known tenants like Starbucks, O’Reilly Auto Parts, Wingstop, Subway, AutoZone, and Belle Tire. The highly visible, signalized corner lot is adjacent to a Village Fresh Market, located at the busy intersection of S Kennedy Dr and Lake Marian Rd, where around 33,574 vehicles pass each day. The area is characterized by a wealthy and dense consumer base, with over 112,828 residents and an average household income of $114,553 within a 5-mile radius, making it an appealing site for retail investment.

Walgreens, the second-largest pharmacy chain in the United States, has been a tenant of this property for more than 25 years, demonstrating strong historical occupancy alongside reported annual retail sales of $2.3 million. The property offers extremely low rent at approximately $18/SF and minimal landlord responsibilities, making it attractive for investors looking for a more passive income opportunity. Additionally, recent enhancements, including a roof replacement in 2023 with a transferable warranty, increase its investment value. Walgreens' ongoing investment in telehealth and e-commerce ensures it remains well-positioned to meet the growing consumer demand for convenient healthcare solutions in this thriving Chicago metropolitan area.

Investment Highlights

  • Strategically Located as an Outparcel to a Busy Walmart Supercenter Anchored Shopping Center
  • Highly Visible Signalized Corner Lot Location Adjacent to a Village Fresh Market at the Heavily Trafficked Intersection of Kennedy Dr and Lake Marian
  • Extremely Low Rent/SF of ~$18/SF
  • Minimal Landlord Responsibilities Ideal for an Investor Looking for a More Passive Investment
  • Walgreens (NYSE: WAG) Is the Second Largest Pharmacy Store Chain in the United States | Nearly 9,000 Locations and Total Revenue of Over $139B
  • Long Historical Occupancy | Walgreens Has Occupied the Subject Property for Over 25 Years

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Drug Store

Walgreens | 6.95% Cap | Chicago MSA

Listing Price: $3,604,403

Cap Rate
6.95%
Tenant Name
Walgreens
Years Remaining On Lease
5.8
Gross SF
13,776
Guarantor
Corporate Guarantee
Rentable SF
13,776
Price/Gross SF
$261.64
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.18

Investment Highlights

  • Strategically Located as an Outparcel to a Busy Walmart Supercenter Anchored Shopping Center
  • Highly Visible Signalized Corner Lot Location Adjacent to a Village Fresh Market at the Heavily Trafficked Intersection of Kennedy Dr and Lake Marian
  • Extremely Low Rent/SF of ~$18/SF
  • Minimal Landlord Responsibilities Ideal for an Investor Looking for a More Passive Investment
  • Walgreens (NYSE: WAG) Is the Second Largest Pharmacy Store Chain in the United States | Nearly 9,000 Locations and Total Revenue of Over $139B
  • Long Historical Occupancy | Walgreens Has Occupied the Subject Property for Over 25 Years

Investment Overview

Situated as an outparcel to a bustling Walmart Supercenter, this property boasts a prime location within a vibrant shopping center that features well-known tenants like Starbucks, O’Reilly Auto Parts, Wingstop, Subway, AutoZone, and Belle Tire. The highly visible, signalized corner lot is adjacent to a Village Fresh Market, located at the busy intersection of S Kennedy Dr and Lake Marian Rd, where around 33,574 vehicles pass each day. The area is characterized by a wealthy and dense consumer base, with over 112,828 residents and an average household income of $114,553 within a 5-mile radius, making it an appealing site for retail investment. Walgreens, the second-largest pharmacy chain in the United States, has been a tenant of this property for more than 25 years, demonstrating strong historical occupancy alongside reported annual retail sales of $2.3 million. The property offers extremely low rent at approximately $18/SF and minimal landlord responsibilities, making it attractive for investors looking for a more passive income opportunity. Additionally, recent enhancements, including a roof replacement in 2023 with a transferable warranty, increase its investment value. Walgreens' ongoing investment in telehealth and e-commerce ensures it remains well-positioned to meet the growing consumer demand for convenient healthcare solutions in this thriving Chicago metropolitan area.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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