6016 63Rd StChicago, IL 60638

This exceptional investment opportunity presents a 14,050 square foot Walgreens located in Chicago, IL, at 6016 W 63rd St, 60638. The property boasts a 13-year absolute NNN lease with a credit-rated tenant, Walgreens (NASDAQ: WBA), commencing September 1, 2022, and expiring August 31, 2035, leaving 10.8 years remaining. The lease includes attractive 5% rent bumps every 5 years, minimizing landlord responsibilities. The property features 32 parking spaces and sits on a 0.77-acre lot, built in 2001. With a current NOI of $351,250 and an asking price of $4,950,000, this translates to a 7.10% cap rate and a price per square foot of $352.31. The property benefits from a dense population, with 22,750 individuals within a 1-mile radius, and its strategic location less than 3 miles from Chicago Midway International Airport and 10 miles from downtown Chicago. The property is situated on a hard corner at a signalized intersection, providing excellent visibility and accessibility. This stabilized investment offers a strong return with minimal management requirements, making it an ideal addition to any portfolio. The property enjoys 100% occupancy and benefits from the strong retail market in Chicago, the third largest economy in the nation. The lease includes 12 lease options.