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Drug Store

Walgreens

4800 148th St, Midlothian, IL 60445

Listing Price: $8,051,282

Cap Rate
5.85%
Tenant Name
Walgreens
Years Remaining On Lease
12.1
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$31.78

Investment Overview

MARCUS & MILLICHAP IS PLEASED TO PRESENT THIS EXCLUSIVE LISTING FOR A 14,820SF WALGREENS STORE LOCATED IN A SUBURBAN LOCATION OF CHICAGO, MIDLOTHIAN, IL. WALGREENS SIGNED A CORPORATE BACKED ABSOLUTE NET LEASE WITH APPROX. 13 YEARS REMAINING ON INITIAL TERM. THERE ARE TERMINATION OPTIONS EVERY FIVE YEARS BEGINNING AFTER SEPTEMBER 2033. THE SUBJECT PROPERTY IS OPEN 24 HOURS WITH ACCESSIBLE DRIVE-THRU AND HAS STORE SALES WELL ABOVE NATIONAL AVERAGE. THE SUBJECT PROPERTY IS LOCATED ON A BUSY SOUTHWEST CORNER OF CICERO AVE (ROUTE 50), ONE CHICAGO'S MOST NOTED AND HEAVILY TRAVELED ROADWAYS, AND 147TH STREET OFFERS PRIME EXPOSURE IN A DENSELY POPULATED AREA. TRAFFIC COUNTS ON THIS INTERSECTION REACH UP TO A STAGGERING 60,000 VPD. LOCATED ONLY 22 MILES SOUTH OF DOWNTOWN CHICAGO. WALGREENS ANCHORING A 75,000 SQUARE FOOT MID OAK SHOPPING PLAZA CONSISTS OF SUBWAY, RENT-A-CENTER, CHARTER FITNESS, SOUTH DIVISION CREDIT UNION, WHITE CASTLE, & H&R BLOCK. BRAND NEW 30,000SF SHOPPING PLAZA AND GAS STATION RICKY ROCKET BUILT A BLOCK AWAY.

Investment Highlights

  • NON-RECOURSE FINANCING 4.35% MUST BE ASSUMED. ONLY 30% DOWN PAYMENT!
  • SIGNALIZED HARD CORNER ON CISERO AVE. 60,000 VPD!
  • 25 YEAR NNN LEASE W/ APPROX. 13 YEARS FIRM REMAINING ON LEASE
  • DENSE POPULATION IN 5-MILE RADIUS OF 257,000+
  • STRONG STORE SALES
  • OPEN 24 HOURS WITH DRIVE-THRU APPROX 20 MILES FROM DOWNTOWN CHICAGO

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

Listing Price: $8,051,282

Cap Rate
5.85%
Tenant Name
Walgreens
Years Remaining On Lease
12.1
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$31.78

Investment Highlights

  • NON-RECOURSE FINANCING 4.35% MUST BE ASSUMED. ONLY 30% DOWN PAYMENT!
  • SIGNALIZED HARD CORNER ON CISERO AVE. 60,000 VPD!
  • 25 YEAR NNN LEASE W/ APPROX. 13 YEARS FIRM REMAINING ON LEASE
  • DENSE POPULATION IN 5-MILE RADIUS OF 257,000+
  • STRONG STORE SALES
  • OPEN 24 HOURS WITH DRIVE-THRU APPROX 20 MILES FROM DOWNTOWN CHICAGO

Investment Overview

MARCUS & MILLICHAP IS PLEASED TO PRESENT THIS EXCLUSIVE LISTING FOR A 14,820SF WALGREENS STORE LOCATED IN A SUBURBAN LOCATION OF CHICAGO, MIDLOTHIAN, IL. WALGREENS SIGNED A CORPORATE BACKED ABSOLUTE NET LEASE WITH APPROX. 13 YEARS REMAINING ON INITIAL TERM. THERE ARE TERMINATION OPTIONS EVERY FIVE YEARS BEGINNING AFTER SEPTEMBER 2033. THE SUBJECT PROPERTY IS OPEN 24 HOURS WITH ACCESSIBLE DRIVE-THRU AND HAS STORE SALES WELL ABOVE NATIONAL AVERAGE. THE SUBJECT PROPERTY IS LOCATED ON A BUSY SOUTHWEST CORNER OF CICERO AVE (ROUTE 50), ONE CHICAGO'S MOST NOTED AND HEAVILY TRAVELED ROADWAYS, AND 147TH STREET OFFERS PRIME EXPOSURE IN A DENSELY POPULATED AREA. TRAFFIC COUNTS ON THIS INTERSECTION REACH UP TO A STAGGERING 60,000 VPD. LOCATED ONLY 22 MILES SOUTH OF DOWNTOWN CHICAGO. WALGREENS ANCHORING A 75,000 SQUARE FOOT MID OAK SHOPPING PLAZA CONSISTS OF SUBWAY, RENT-A-CENTER, CHARTER FITNESS, SOUTH DIVISION CREDIT UNION, WHITE CASTLE, & H&R BLOCK. BRAND NEW 30,000SF SHOPPING PLAZA AND GAS STATION RICKY ROCKET BUILT A BLOCK AWAY.

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

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