The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease suburban\u00a0 Walgreens property located at 14680 South La Grange Road in Orland Park, Illinois for $6,854,838.<\/p>\n
The 15,120 square foot net lease suburban Chicago Walgreens benefits from its signalized hard corner location along LaGrange Road (36,400 VPD) which is a primary north-south thoroughfare. The property is well positioned in a dominant retail corridor immediately across from Orland Square Mall (Simon) which is anchored by JCPenney, Macy’s, Von Maur, Apple, AMC (2020) Cheesecake Factory and Texas de Brazil. Other retailers in the corridor include Walmart Supercenter, Costco, Jewel-Osco, Target, Lowe\u2019s, Nordstrom Rack, Dick\u2019s Sporting Goods, Whole Foods, Trader Joe\u2019s, Mariano\u2019s and Dave & Buster\u2019s. Additionally, the Walgreens property is located in close proximity to U-Chicago Medicine Orland Park which drives additional traffic to the store. There are over 163,000 people living within five miles of the property with an average household income of $114,096.<\/p>\n
The Walgreens lease expires September 30, 2032 and features eight 5-year renewal option periods.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a Midwest based real estate developer. The buyer was a west coast-based investor.<\/p>\n
\u201cWalgreens properties with proven operating histories continue to garner significant investor interest\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cProperties with long proven operating histories continue to be in demand with all investor classes.\u201d<\/p>\n