Absolute Net Walgreens | Chicago MSA
11200 West Laraway Road, Frankfort, IL, USA Map
Listing Price $4,642,857
| Status | Closed |
| Lease Type | Absolute Net |
| Property Type | Retail |
| CAP Rate | 7% |
| GLA (Sq. Ft.) | 14,719 |
| NOI | $325,000 |
| Lease Term Remaining | 4.8 Years |
| Options | 10 x 5 Years |
| State (BOR) | IL |
| Broker of Record | Steve Weinstock |
| License # (BOR) | 471.011175 |
| Close Date | Feb 1, 2024 |
Investment Highlights
- 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)
- 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
