The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased\u00a0 Chicago MSA Walgreens property located at 820 183rd Street in Homewood, Illinois for $2,925,000.<\/p>\n
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.\u00a0 The location can be accessed from both thoroughfares.\u00a0 The property is located near a number of national retailers such as Walmart, Target, Menards, Kohl\u2019s, Best Buy, T.J. Maxx, OfficeMax and a number of quick service restaurants.\u00a0 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.<\/p>\n
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.<\/p>\n
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\u2019s rating of BBB.<\/p>\n
\u201cThe market for Walgreens properties remains active as investors are attracted to investment grade rated companies with long term leases.\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cWhile single tenant properties are selling in all types of locations; core markets, like Chicago, are at the forefront of investor demand.\u201d<\/p>\n