Walgreens 12659 S Ridgeland Ave 14,677 SF Retail Building Palos Heights, IL 60463 $5,689,366 CAD ($387.64 CAD/SF) 9.25% Cap Rate

This is a prime opportunity to acquire a Walgreens property in Palos
Heights, Illinois, secured by a 25-year Absolute NNN (Triple Net) Lease,
which absolves the landlord from property management
responsibilities such as taxes, insurance, and maintenance. The lease,
guaranteed by Walgreens, began in January 2006 and is set to expire
in December 2030. Additionally, the lease includes ten 5-year renewal
options, providing potential for extended leasing.
Located at a signalized intersection in one of the area's busiest retail
nodes, this Walgreens benefits from high visibility and excellent
access, with combined daily traffic counts exceeding 43,000 vehicles.
The property is in a high-performing location with strong in-store
sales and exposure to both local residents and daily commuters. Its
position in a densely populated suburban retail corridor in Palos
Heights, an affluent suburb south of Chicago, ensures continued
demand and foot traffic.
The surrounding area features a wide range of national retailers and
service providers, including a newly developed Pete's Market
(scheduled to open early 2026), Jewel-Osco, McDonald's, Starbucks,
Dunkin', CVS, Ace Hardware, Chase Bank, and Dollar Tree, creating a
thriving commercial environment. In addition, the nearby Palos
Health South Campus (Northwestern Medicine) boosts the area's
traffic. The local demographic is strong, with 77,091 residents within a
3-mile radius and an average household income of $104,177, providing
a stable and affluent consumer base for continued retail success.