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Walgreens - (California Ave) Chicago, IL 2744 N California Ave 12,515 SF Retail Building Chicago, IL 60647 $7,400,000 ($591.29/SF) 7.50% Cap Rate
Investment Highlights
- PASSIVE SLEEP-AT-NIGHT OPPORTUNITY - The NNN lease structure requires zero landlord obligations, tenant pays for all taxes, insurance, and maintenance
- FANTASTIC LOCATION - Located in the heart of Chicago, this site has been a staple in the community since 2009
- OUTSTANDING DEMOGRAPHICS - Surrounded by dense urban infill, with more than 1,000,000 residents living within a 5-mile radius from the site
- STABLE INVESTMENT GRADE TENANT - Walgreens Boots Alliance is publicly traded (NASDAQ: WBA), is ranked #18 in the Fortune 500, and is rated BBB- by S&P
- STRATEGICALLY LOCATED RETAIL CORNER - Excellent visibility on a signalized intersection, including a drive-thru pharmacy and electric vehicle charging
- Illinois Broker of Record: Steven Weinstock - P: (630) 570-2200 - Steven.Weinstock@MarcusMillichap.com - Lic #: 471.011175
Executive Summary
Available individually or as a portfolio, ask about our other midwest Walgreens locations.
WALGREENS
Walgreens, one of the nation’s largest drugstore chains, is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (NASDAQ: WBA), the first global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance has over 21,000 stores in 11 countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with over 425 distribution centers delivering to more than 250,000 pharmacies, doctors, health centers and hospitals each year in more than 20 countries.
CHICAGO, IL
Chicago-Naperville-Elgin is one of the largest metros in the nation. The Chicagoland area is bounded to the east by Lake Michigan, expands over a 5,000-square-mile region in northeastern Illinois and extends into Wisconsin and Indiana. The metro houses 9.5 million people and comprises 14 counties. The city of Chicago contains 2.7 million residents. The greatest growth during the past 20 years occurred in the western portion of the region and was exemplified between 2020-2021. Since then, movement back into downtown Chicago is gaining headway as employers increasingly push for hybrid work schedules, while progressing tourism levels support activity in the urban core.
Illinois Broker of Record: Steven Weinstock
One Mid America Plaza, Ste. 200
Oakbrook Terrace, IL 60181
P: (630) 570-2200
Steven.Weinstock@MarcusMillichap.com
Lic #: 471.011175
WALGREENS
Walgreens, one of the nation’s largest drugstore chains, is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (NASDAQ: WBA), the first global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance has over 21,000 stores in 11 countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with over 425 distribution centers delivering to more than 250,000 pharmacies, doctors, health centers and hospitals each year in more than 20 countries.
CHICAGO, IL
Chicago-Naperville-Elgin is one of the largest metros in the nation. The Chicagoland area is bounded to the east by Lake Michigan, expands over a 5,000-square-mile region in northeastern Illinois and extends into Wisconsin and Indiana. The metro houses 9.5 million people and comprises 14 counties. The city of Chicago contains 2.7 million residents. The greatest growth during the past 20 years occurred in the western portion of the region and was exemplified between 2020-2021. Since then, movement back into downtown Chicago is gaining headway as employers increasingly push for hybrid work schedules, while progressing tourism levels support activity in the urban core.
Illinois Broker of Record: Steven Weinstock
One Mid America Plaza, Ste. 200
Oakbrook Terrace, IL 60181
P: (630) 570-2200
Steven.Weinstock@MarcusMillichap.com
Lic #: 471.011175
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
12,515 SF
Building Class
B
Year Built
2009
Price
$7,400,000
Price Per SF
$591.29
Cap Rate
7.50%
NOI
$555,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.43
Lot Size
0.67 AC
Parking
26 Spaces (2.08 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Drive Thru
- Car Charging Station
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Walgreens is a U.S.-based retail pharmacy chain that provides prescription dispensing, health services, and a broad range of retail products. The company was founded in 1901 by Charles R. Walgreen in Chicago, Illinois. Over time, Walgreens expanded from a single neighborhood pharmacy into a national retail and healthcare platform operating under a direct-to-consumer model. Walgreens became part of a global retail pharmacy organization following the 2014 transaction that formed Walgreens Boots Alliance. The company continues to operate its U.S. pharmacy and retail business under the Walgreens brand and maintains its corporate headquarters in Deerfield, Illinois. Walgreens operates as a subsidiary within a larger corporate structure and is publicly traded through its parent company.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (72)
Bike Score®
Biker's Paradise (97)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $23,313 | |
| Land Assessment | $442,189 | Total Assessment | $465,502 |
Property Taxes
Parcel Numbers
Land Assessment
$442,189
Improvements Assessment
$23,313
Total Assessment
$465,502
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Walgreens - (California Ave) Chicago, IL | 2744 N California Ave
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