Chicago MSA Walgreens Sale Arranged Date February 23, 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 820 183rd Street in Homewood, Illinois for $2,925,000.
The 13,905 square foot Chicago MSA Walgreens is positioned just off of the signalized intersection of 183rd Street and Halsted Street which experiences a combined traffic count of 52,300 vehicles per day. The location can be accessed from both thoroughfares. The property is located near a number of national retailers such as Walmart, Target, Menards, Kohl’s, Best Buy, T.J. Maxx, OfficeMax and a number of quick service restaurants. The property is also located within close proximity to multiple residential communities, local businesses, and schools. There are over 65,560 people living within a three mile radius of the property with an average annual household income in excess of $79,000.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Southeast based real estate investment firm. The buyer was a West Coast based real estate investment firm.
Walgreens has over 12 years remaining on their lease which expires August 31, 2029 and features five 5-year renewal option periods. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB.
“The market for Walgreens properties remains active as investors are attracted to investment grade rated companies with long term leases.” 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.”
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