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Walgreens 8400 171st St 14,820 SF Retail Building Tinley Park, IL 60487 $6,998,907 CAD ($472.26 CAD/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Successful operating history since 2007
- Over 7 years remain on the primary lease term
- Six-figure average household income within one-mile ($143,282)
- NNN lease – No landlord responsibilities
- 174,000+ people live within a five-mile radius
- Proximity to South LaGrange Road (43,100 VPD) & Interstate 80 (122,400 VPD)
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property positioned within the Chicago MSA in Tinley Park, Illinois. Walgreens has successfully operated at this location since 2007 demonstrating commitment. The lease is absolute triple net featuring no landlord responsibilities. The lease runs through August 2032 leaving over 7 years of term remaining. Additionally, there are ten 5-year renewal options. Walgreens is the second largest pharmacy store chain in the United States with a Fortune 500 ranking of 27 for total revenue.
The 14,820-square-foot building is strategically located at the signalized intersection of West 171st Street and 84th Avenue, which experience a combined 23,400 vehicles per day. Its high visibility is further enhanced by Victor Andrew High School (2,100 students) and the Tinley Park – Park District, both of which draw continual traffic through the corridor. The property also benefits from proximity to South LaGrange Road (43,100 VPD) and Interstate 80 (122,400 VPD), making it easily accessible from major thoroughfares. Additionally, there are over 174,000 people living within a five-mile radius. The area is comprised of an affluent population that earns an average household income of $143,282 (within one mile).
Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc., a global leader in retail pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing of every community in America. Operating more than 8,600 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services.
The 14,820-square-foot building is strategically located at the signalized intersection of West 171st Street and 84th Avenue, which experience a combined 23,400 vehicles per day. Its high visibility is further enhanced by Victor Andrew High School (2,100 students) and the Tinley Park – Park District, both of which draw continual traffic through the corridor. The property also benefits from proximity to South LaGrange Road (43,100 VPD) and Interstate 80 (122,400 VPD), making it easily accessible from major thoroughfares. Additionally, there are over 174,000 people living within a five-mile radius. The area is comprised of an affluent population that earns an average household income of $143,282 (within one mile).
Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc., a global leader in retail pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing of every community in America. Operating more than 8,600 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
B
Year Built
2008
Price
$6,998,907 CAD
Price Per SF
$472.26 CAD
Cap Rate
8%
NOI
$559,913 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.45 AC
Frontage
AMENITIES
- Signage
- Signalized Intersection
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- -
- -
- Triple Net
- Aug 2032
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 | - | - | Triple Net | Aug 2032 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 27-26-103-012-0000 | Improvements Assessment | $301,868 CAD |
| Land Assessment | $267,325 CAD | Total Assessment | $569,194 CAD |
PROPERTY TAXES
Parcel Number
27-26-103-012-0000
Land Assessment
$267,325 CAD
Improvements Assessment
$301,868 CAD
Total Assessment
$569,194 CAD
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Walgreens | 8400 171st St
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