Walgreens - (California Ave) Chicago, IL 2744 N California Ave 12,515 SF Retail Building Chicago, IL 60647 £5,769,188 (£460.98/SF) 7.50% Net Initial Yield
INVESTMENT HIGHLIGHTS
- PASSIVE SLEEP-AT-NIGHT OPPORTUNITY - The NNN lease structure requires zero landlord obligations, tenant pays for all taxes, insurance, and maintenance
- FANTASTIC LOCATION - Located in the heart of Chicago, this site has been a staple in the community since 2009
- OUTSTANDING DEMOGRAPHICS - Surrounded by dense urban infill, with more than 1,000,000 residents living within a 5-mile radius from the site
- STABLE INVESTMENT GRADE TENANT - Walgreens Boots Alliance is publicly traded (NASDAQ: WBA), is ranked #18 in the Fortune 500, and is rated BBB- by S&P
- STRATEGICALLY LOCATED RETAIL CORNER - Excellent visibility on a signalized intersection, including a drive-thru pharmacy and electric vehicle charging
- Illinois Broker of Record: Steven Weinstock - P: (630) 570-2200 - Steven.Weinstock@MarcusMillichap.com - Lic #: 471.011175
EXECUTIVE SUMMARY
Available individually or as a portfolio, ask about our other midwest Walgreens locations.
WALGREENS
Walgreens, one of the nation’s largest drugstore chains, is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (NASDAQ: WBA), the first global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance has over 21,000 stores in 11 countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with over 425 distribution centers delivering to more than 250,000 pharmacies, doctors, health centers and hospitals each year in more than 20 countries.
CHICAGO, IL
Chicago-Naperville-Elgin is one of the largest metros in the nation. The Chicagoland area is bounded to the east by Lake Michigan, expands over a 5,000-square-mile region in northeastern Illinois and extends into Wisconsin and Indiana. The metro houses 9.5 million people and comprises 14 counties. The city of Chicago contains 2.7 million residents. The greatest growth during the past 20 years occurred in the western portion of the region and was exemplified between 2020-2021. Since then, movement back into downtown Chicago is gaining headway as employers increasingly push for hybrid work schedules, while progressing tourism levels support activity in the urban core.
Illinois Broker of Record: Steven Weinstock
One Mid America Plaza, Ste. 200
Oakbrook Terrace, IL 60181
P: (630) 570-2200
Steven.Weinstock@MarcusMillichap.com
Lic #: 471.011175
WALGREENS
Walgreens, one of the nation’s largest drugstore chains, is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (NASDAQ: WBA), the first global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance has over 21,000 stores in 11 countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with over 425 distribution centers delivering to more than 250,000 pharmacies, doctors, health centers and hospitals each year in more than 20 countries.
CHICAGO, IL
Chicago-Naperville-Elgin is one of the largest metros in the nation. The Chicagoland area is bounded to the east by Lake Michigan, expands over a 5,000-square-mile region in northeastern Illinois and extends into Wisconsin and Indiana. The metro houses 9.5 million people and comprises 14 counties. The city of Chicago contains 2.7 million residents. The greatest growth during the past 20 years occurred in the western portion of the region and was exemplified between 2020-2021. Since then, movement back into downtown Chicago is gaining headway as employers increasingly push for hybrid work schedules, while progressing tourism levels support activity in the urban core.
Illinois Broker of Record: Steven Weinstock
One Mid America Plaza, Ste. 200
Oakbrook Terrace, IL 60181
P: (630) 570-2200
Steven.Weinstock@MarcusMillichap.com
Lic #: 471.011175
PROPERTY FACTS
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
12,515 SF
Building Class
B
Year Built
2009
Price
£5,769,188
Price Per SF
£460.98
Net Initial Yield
7.50%
NOI
£432,689
Tenancy
Single
Number of Floors
1
Building FAR
0.43
Lot Size
0.67 AC
Parking
26 Spaces (2.08 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Drive Thru
- Electric Car Charging Point
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- 15,120 SF
- -
- NNN
- Jun 2034
Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | 15,120 SF | - | NNN | Jun 2034 |
Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (70)
Bike Score®
Biker's Paradise (97)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £18,232 | |
| Land Assessment | £345,818 | Total Assessment | £364,051 |
