Walgreens in Mt. Greenwood Chicago – #1 Neighborhood
3220 West 111th Street, Chicago, IL, USA Map
Listing Price $7,698,413
Status | Active |
Lease Type | Absolute Net |
Property Type | Retail |
CAP Rate | 6.3% |
GLA (Sq. Ft.) | 13,650 |
NOI | $485,000 |
Lease Term Remaining | 11.7 |
Increases | None |
Options | 10 x 5 Years |
State (BOR) | IL |
Broker of Record | Steven Weinstock |
License # (BOR) | 471.011175 |
Investment Highlights
- Mount Greenwood is an Affluent Community with an Average
Household Income of Over $104K within One Mile of the
Subject Asset, as of 2022, Area Known Most Desirable as One of Top Five
Safest Neighborhoods in Chicago - Robust Traffic Counts on 111th Street (16,750 VPD) and
Kedzie Avenue (14,500 VPD) (Source: LandVision, CoStar,
2022) - Dense Suburban Corridor | Nearby National Retailers Include:
Wendy’s, Raising Cane’s, Dunkin’, Burger King, Dollar Tree,
True Value, U.S. Bank, DaVita, TJ Maxx, HomeGoods, and
Others - Parks and Outdoor Recreational Facilities Nearby Include:
Ridge CC Golf Course, The Meadows Golf Club, Fountain Hills
Golf Club, Mt. Greenwood Park, Wolfe Wildlife Park, Lake
Katherine Nature Center, and More - Subject is Fourteen Miles from Downtown Chicago with a
Population of 2.7 Million - Walgreens Benefits from its Strategic Location Serving
Merrionette Park and All Points South and West to Alsip - Subject is 9 Miles from Chicago Midway International Airport,
Serving 20 Million Passengers Annually (flychicago.com)
Investment Overview
Subject is a Prime 13,650 Square-Foot Build-to-Suit Walgreens on a 1.44-Acre Lot with Ample Parking, Drive-Thru Pharmacy, Pylon Signage, Easy Ingress/Egress, and Strategically Located on a Signalized Intersection Absolute NNN Lease with Twenty Five Year Base Term, High Sales Location, Store Was Rebuilt On Same Site, Zero Landlord Responsibility | 10 x 5-Year Options