11801 S Avenue O
Chicago, IL 60617
Walgreens · Retail Property For Sale

The subject property is a 14,820-square foot freestanding Walgreens Pharmacy, with drive-thru, situated on 1.38-acres in Chicago, Illinois. More specifically, the property is located in the far south side of Chicago at the South Avenue O and 118th Street intersection, just miles from the Illinois-Indiana border. Built in 2011, the property is occupied by an investment grade tenant (Walgreens) on a long-term Absolute Triple-Net Lease. There are 16.3-years remaining on the Absolute Triple-Net Lease (absolutely no landlord responsibilities) before the tenant can exercise an option to terminate. The original 75-year lease commenced in May of 2011 and is scheduled to expire in May of 2086. The lease includes annual tenant termination rights after the year 2036. The annual rent is $344,012 with no rental increases through the life of the lease. The corporate guaranteed lease is backed by Walgreens Co., investment grade tenant with an S&P Credit Rating of BBB. Walgreens, one of the nation’s largest leading drugstore chains, constitutes the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), the first global pharmacy-led, health, and wellbeing enterprise. More that 8 million customers interact with Walgreens each day across the United States. Walgreens operates 9,500+ drugstores with a presence in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Walgreens Boots Alliance reported sales of $131.5 Billion and employs more than 230,000 people. The subject property is a relocation site for Walgreens from an in-line shopping center located directly across the street. Walgreens has operated at this intersection for many years demonstrating their commitment and success at this site. Located at the South Avenue O and 118th Street intersection, the property enjoys daily traffic counts in excess of 16,000 vehicles per day. Furthermore, as of 2018 the population within a 5-mile radius is 245,183.