Chicago Single Tenant Walgreens Sale Arranged Date June 20, 2019
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a Chicago single tenant net leased Walgreens property located at 11981 W 143rd Street in Orland Park, Illinois for $6,650,000.
The 14,820 square foot Chicago single tenant Walgreens is strategically positioned on the southeast corner of 143rd Street and Will Cook Road, two primary thoroughfares in Orland Park, Illinois. The intersection experiences traffic counts in excess of 20,350 vehicles per day. Retailers located in the immediate area include US Bank, KinderCare, US Bank Circle K and a number of local businesses. The Home Depot, Menards, Jewel-Osco (Albertsons) and Meijer are all located less than one mile from the location. There are over 40,800 people living within a three mile radius of the property earning an average household income of more than $124,400 per year.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a private partnership and the buyer was an individual investor.
Walgreens has fifteen years remaining on their lease which expires July 31, 2034 and features fifty 1-year renewal option periods. Walgreens is publicly traded on the Nasdaq Stock Market (symbol: WBA) with a market capitalization in excess of $48 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.
“Walgreens drug store properties with proven operating histories continue to garner significant investor interest” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties in strong markets continue to be the most attractive for investors.”
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 $5 billion of single tenant net lease real estate transactions. From 2012-2018, 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