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Absolute Net Walgreens | Chicago MSA

11200 West Laraway Road, Frankfort, IL, USA Map

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Listing Price $4,924,242

Status Active
Lease Type Absolute Net
Property Type Retail
CAP Rate 6.6%
GLA (Sq. Ft.) 14,719
NOI $325,000
Lease Term Remaining 5.5 Years
Options 10 x 5 Years
State (BOR) IL
Broker of Record Steve Weinstock
License # (BOR) 471.011175

Investment Highlights

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  • Subject is a Prime 14,709 Square-Foot Build-to-Suit
    Walgreens on a 1.72-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress, Strategically Located on a Signalized Intersection
  • Absolute NNN Lease with a 25-Year Base Term and Zero Landlord Responsibility | Over Five Years Remaining and 10 x 5-Year Options
  • Robust Traffic Counts on Laraway Road (10,302 VPD) and Wolf Road (6.809 VPD), a Half Mile off of South La Grange Road (15,506 VPD) (Source: LandVision, CoStar, 2022)
  • Investment-Grade Credit Tenant Walgreens Boots Alliance (NASDAQ: WBA) has a Long-Term Stable Credit Rating of Baa2 (Stable) from Moody’s and Investment Grade Rating of BBB (Stable) from S&P
  • High Growth Area | Nearby National Retailers Include: JC Penney, Bed Bath & Beyond, Meijer, Kohl’s, Panera Bread, Office Depot, Chase, Chipotle, CVS, US Bank, and Others
  • Affluent Community with an Average Household Income of Over $154K within Five Miles of the Subject Asset, as of 2022
  • Subject is 27 Miles from Chicago Midway International
    Airport, Serving Over 20 Million Passengers Annually and 36 Miles from Downtown Chicago with a Population of 2.7 Million (flychicago.com)
  • Parks and Outdoor Recreational Facilities Nearby Include: Hickory Creek Preserve, Hallmark Sports Club, Prestwick Country Club, Sauk Trail Reservoir, Sanctuary Golf Course, and More

Investment Overview

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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