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Walgreens | 6.95% Cap | Chicago MSA 399 Lake Marian Rd
13,776 SF Retail Building Carpentersville, IL 60110 $5,069,232 CAD ($368 CAD/SF) 6.95% Cap Rate
Investment Highlights
- Strategically Located as an Outparcel to a Busy Walmart Supercenter Anchored Shopping Center
- Extremely Low Rent/SF of ~$18/SF
- Walgreens (NYSE: WAG) Is the Second Largest Pharmacy Store Chain in the United States | Nearly 9,000 Locations and Total Revenue of Over $139B
- Highly Visible Signalized Corner Lot Location Adjacent to a Village Fresh Market at the Heavily Trafficked Intersection of Kennedy Dr and Lake Marian
- Minimal Landlord Responsibilities Ideal for an Investor Looking for a More Passive Investment
- Long Historical Occupancy | Walgreens Has Occupied the Subject Property for Over 25 Years
Executive Summary
Walgreens, the second-largest pharmacy chain in the United States, has been a tenant of this property for more than 25 years, demonstrating strong historical occupancy alongside reported annual retail sales of $2.3 million. The property offers extremely low rent at approximately $18/SF and minimal landlord responsibilities, making it attractive for investors looking for a more passive income opportunity. Additionally, recent enhancements, including a roof replacement in 2023 with a transferable warranty, increase its investment value. Walgreens' ongoing investment in telehealth and e-commerce ensures it remains well-positioned to meet the growing consumer demand for convenient healthcare solutions in this thriving Chicago metropolitan area.
Illinois Broker of Record: Steven Weinstock
One Mid America Plaza, Ste. 200
Oakbrook Terrace, IL 60181
Steven.Weinstock@MarcusMillichap.com
Lic #: 471.011175
Property Facts
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Retailer
- -
- -
- Net
- -
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 | - | - | Net | - |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $430,252 CAD | |
| Land Assessment | $619,845 CAD | Total Assessment | $1,050,097 CAD |
PROPERTY TAXES
-
Tyler Bindi -
Jason Fefer -
Robert Narchi -
Steven Weinstock -
Marcus & Millichap
Presented by
Walgreens | 6.95% Cap | Chicago MSA | 399 Lake Marian Rd
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