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Drug Store

CVS Pharmacy

7929 W North Ave, River Forest, IL 60305

Listing Price: $7,900,000

Cap Rate
5.00%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
16.4
Guarantor
Corporate Guarantee
Rentable SF
10,966
Lease Type
Double Net
Rent Per Square Feet
$36.02

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the CVS property located at 7929 North Avenue in River Forest, IL. The property consists of roughly 10,966 rentable square feet of building space on an estimated 1.64-acre parcel of land. CVS is subject to a long-term lease with 16+ years remaining on the primary term. The current rent is $395,000 with 5% increases at the start of each option period. The landlord is responsible for roof and structure, however all other expenses are reimbursed through CAM. The roof was completely replaced in 2018 and comes with a 20-year roof warranty. The landlord is also responsible for repaving the parking lot, if needed, however the tenant will pay the amortized costs over the useful life. There are five (5), five (5)-year tenant renewal options, extending the total possible lease term to over 41 years.

Investment Highlights

  • 16+ Years Remaining on the CVS Lease
  • CVS Corporate Guaranty | Investment Grade Credit | "BBB" S&P Credit Rating
  • Five Percent Rent Increases at the Start of Each of the Remaining Five, Five-Year Tenant Renewal Options

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Josh Kanter

    Licensed Real Estate Salesperson

    (212) 430-5189

    Email Josh

    License(s): NY: 10401265643

    Manhattan

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: $7,900,000

Cap Rate
5.00%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
16.4
Guarantor
Corporate Guarantee
Rentable SF
10,966
Lease Type
Double Net
Rent Per Square Feet
$36.02

Investment Highlights

  • 16+ Years Remaining on the CVS Lease
  • CVS Corporate Guaranty | Investment Grade Credit | "BBB" S&P Credit Rating
  • Five Percent Rent Increases at the Start of Each of the Remaining Five, Five-Year Tenant Renewal Options

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the CVS property located at 7929 North Avenue in River Forest, IL. The property consists of roughly 10,966 rentable square feet of building space on an estimated 1.64-acre parcel of land. CVS is subject to a long-term lease with 16+ years remaining on the primary term. The current rent is $395,000 with 5% increases at the start of each option period. The landlord is responsible for roof and structure, however all other expenses are reimbursed through CAM. The roof was completely replaced in 2018 and comes with a 20-year roof warranty. The landlord is also responsible for repaving the parking lot, if needed, however the tenant will pay the amortized costs over the useful life. There are five (5), five (5)-year tenant renewal options, extending the total possible lease term to over 41 years.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Josh Kanter

    Licensed Real Estate Salesperson

    (212) 430-5189

    Email Josh

    License(s): NY: 10401265643

    Manhattan

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

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