Chicago MSA Walgreens Sale Arranged Date May 14, 2018
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Chicago MSA Walgreens property located at 7878 Harlem Avenue in Bridgeview, Illinois for $5,750,000.
The 15,120 square foot Chicago MSA Walgreens is strategically positioned on the northwest corner of Harlem Avenue and 79th Street, two primary thoroughfares in Bridgeview, Illinois. The intersection experiences traffic counts in excess of 73,200 vehicles per day. There are approximately 133,700 people living within a three mile radius of the property earning an average household income of more than $74,000 per year.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate investment firm. The buyer was a local real estate investor.
The property is positioned at a heavily trafficked signalized intersection in a dense infill area. The Walgreens features a drive-thru and has excellent visibility along both Harlem Avenue and 79th Street. There are four years remaining on the Walgreens lease that features eight 5-year renewal option periods. Walgreens is the largest drug retailing chain in the United States with over 8,175 locations in the United States.
“The market for Walgreens properties remains active as investors are attracted to investment grade rated companies.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “While single tenant properties are selling in all types of locations; core markets, like Chicago, are at the forefront of investor demand regardless of lease term remaining.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $4 billion of single tenant net lease real estate transactions. From 2012-2017, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.comBack