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Absolute NNN Leased Walgreens 12659 S Ridgeland Ave 14,677 SF Retail Building Palos Heights, IL 60463 $4,073,000 ($277.51/SF) 9.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease – Zero Landlord Responsibilities
- High-Performing Location With Strong Reported Sales (Over $3.5 Million)
- Over 29,000 Combined Vehicles Per Day at Intersection
- Corporately Guaranteed by Walgreens (NASDAQ: WBA)
- Signalized Corner With Excellent Visibility and Access
EXECUTIVE SUMMARY
This is the opportunity to purchase a Walgreens property located in
Palos Heights, Illinois. The asset is secured by a 25-year Absolute NNN Lease
with zero landlord responsibilities, corporately guaranteed by Walgreens. The
lease commenced in January 2006 and is set to expire in December 2030, with
ten 5-year renewal options.
This high-performing Walgreens reports strong in-store sales and is strategically
positioned at a signalized intersection in one of the busiest retail nodes in the
area. The site offers excellent visibility and access, with combined traffic counts
exceeding 29,000 vehicles per day, ensuring steady exposure to both local
residents and daily commuters.
The property is located within a dense suburban retail corridor in a wellestablished,
affluent part of Palos Heights, a desirable suburb of Chicago. The
surrounding trade area features a strong lineup of national retailers and service
providers, including Jewel-Osco, McDonald’s, Starbucks, Dunkin’, CVS, Ace
Hardware, Chase Bank, and Dollar Tree, as well as nearby medical and office
buildings such as Palos Health South Campus (Northwestern Medicine). Within a
3-mile radius, the area includes approximately 77,091 residents with an average
household income of $104,177.
Palos Heights, Illinois. The asset is secured by a 25-year Absolute NNN Lease
with zero landlord responsibilities, corporately guaranteed by Walgreens. The
lease commenced in January 2006 and is set to expire in December 2030, with
ten 5-year renewal options.
This high-performing Walgreens reports strong in-store sales and is strategically
positioned at a signalized intersection in one of the busiest retail nodes in the
area. The site offers excellent visibility and access, with combined traffic counts
exceeding 29,000 vehicles per day, ensuring steady exposure to both local
residents and daily commuters.
The property is located within a dense suburban retail corridor in a wellestablished,
affluent part of Palos Heights, a desirable suburb of Chicago. The
surrounding trade area features a strong lineup of national retailers and service
providers, including Jewel-Osco, McDonald’s, Starbucks, Dunkin’, CVS, Ace
Hardware, Chase Bank, and Dollar Tree, as well as nearby medical and office
buildings such as Palos Health South Campus (Northwestern Medicine). Within a
3-mile radius, the area includes approximately 77,091 residents with an average
household income of $104,177.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,677 SF
Building Class
B
Year Built
2005
Price
$4,073,000
Price Per SF
$277.51
Cap Rate
9.50%
NOI
$386,996
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.58 AC
AMENITIES
- Signage
Walk Score®
Very Walkable (71)
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 24-29-302-080-0000 | Improvements Assessment | $198,535 |
| Land Assessment | $172,023 | Total Assessment | $370,558 |
PROPERTY TAXES
Parcel Number
24-29-302-080-0000
Land Assessment
$172,023
Improvements Assessment
$198,535
Total Assessment
$370,558
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Absolute NNN Leased Walgreens | 12659 S Ridgeland Ave
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