Skip to main content

Drug Store

Walgreens

3320 West Fullerton Avenue, Chicago, IL 60647

Listing Price: $6,000,000

Cap Rate
5.75%
Tenant Name
Walgreens
Years Remaining On Lease
7.6
Guarantor
Corporate Guarantee
Rentable SF
11,155
Lease Type
Absolute Net
Rent Per Square Feet
$30.93

Investment Overview

Marcus & Millichap is pleased to present for sale this Net Leased Walgreens located at 3320 West Fullerton Avenue in Historic Logan Square - Chicago, Illinois. The subject property consists of a free-standing building comprised of 11,155 square feet of retail space and is situated on a 0.56-acre parcel of land. Strategically located on the Hard-Signalized Intersection of West Fullerton Avenue and North Kimball Avenue, the property is highly visible to more than 40,000 vehicles per day. The subject intersection is less than a 1/2 mile from the Logan Square - Blue Line Subway Station and approximately 3/4 of a mile from the Healy - North Line Metra Train Station, making Downtown Chicago accessible to pedestrians within 30 minutes. This urban infill location benefits from an average household income exceeding $100,000 and a population in excess of 500,000 in the 3-mile radius. The area is characterized by the prominent historical boulevards, stately greystones and large bungalow-style homes. Walgreens executed a 25 Year Net-Lease with Zero Landlord Responsibilities when originally built in 2004. Approximately 8 years remain on the primary lease term. Walgreens is performing very well with exceptional reported sales.

Investment Highlights

  • Hard-Corner Signalized Intersection Highly Visible to over 40,000 Vehicles Per Day
  • Less than a 1/2 Mile from the Logan Square - Blue Line Subway Station and Approximately 3/4 of a Mile from the Healy - North Line Metra Train Station
  • Heavy Pedestrian Foot Traffic and Alternative Transportation Area
  • Double-Digit Leveraged Return Including Principal Paydown on a New Loan
  • Primary Lease Term Expires January 31st, 2029 with Ten - Five Year Options Remaining
  • Over $300/SF in Annual Sales at this Location
  • Triple-Net (NNN) Lease with Zero Landlord Responsibilities

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s) IL: 471.011175

    Illinois

Financing By

Listing Price: $6,000,000

Cap Rate
5.75%
Tenant Name
Walgreens
Years Remaining On Lease
7.6
Guarantor
Corporate Guarantee
Rentable SF
11,155
Lease Type
Absolute Net
Rent Per Square Feet
$30.93

Investment Highlights

  • Hard-Corner Signalized Intersection Highly Visible to over 40,000 Vehicles Per Day
  • Less than a 1/2 Mile from the Logan Square - Blue Line Subway Station and Approximately 3/4 of a Mile from the Healy - North Line Metra Train Station
  • Heavy Pedestrian Foot Traffic and Alternative Transportation Area
  • Double-Digit Leveraged Return Including Principal Paydown on a New Loan
  • Primary Lease Term Expires January 31st, 2029 with Ten - Five Year Options Remaining
  • Over $300/SF in Annual Sales at this Location
  • Triple-Net (NNN) Lease with Zero Landlord Responsibilities

Investment Overview

Marcus & Millichap is pleased to present for sale this Net Leased Walgreens located at 3320 West Fullerton Avenue in Historic Logan Square - Chicago, Illinois. The subject property consists of a free-standing building comprised of 11,155 square feet of retail space and is situated on a 0.56-acre parcel of land. Strategically located on the Hard-Signalized Intersection of West Fullerton Avenue and North Kimball Avenue, the property is highly visible to more than 40,000 vehicles per day. The subject intersection is less than a 1/2 mile from the Logan Square - Blue Line Subway Station and approximately 3/4 of a mile from the Healy - North Line Metra Train Station, making Downtown Chicago accessible to pedestrians within 30 minutes. This urban infill location benefits from an average household income exceeding $100,000 and a population in excess of 500,000 in the 3-mile radius. The area is characterized by the prominent historical boulevards, stately greystones and large bungalow-style homes. Walgreens executed a 25 Year Net-Lease with Zero Landlord Responsibilities when originally built in 2004. Approximately 8 years remain on the primary lease term. Walgreens is performing very well with exceptional reported sales.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s): IL: 471.011175

    Illinois

Financing By

MM Texture Background
MM Textured Background Lower