4001 Irving Park RdChicago, IL 60641

Property Details for 4001 Irving Park Rd

Year built

2006

Lot size

0.57 AC

Property size (Sq ft)

12,495 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a 12,495 square foot Walgreens located at 4001 W Irving Park Rd, Chicago, IL 60641. The property sits on a 0.57-acre lot and features a single building constructed in 2006. This is an absolute NNN leasehold interest with a corporate guarantee from Walgreens Boots Alliance (NASDAQ: WBA), offering significant investment advantages and a passive income stream. The lease commenced on October 13, 2006, and has a remaining term of approximately 6.9 years, with a lease expiration date of October 12, 2031, and includes 10x5 lease options. The property boasts a 100% occupancy rate, generating a Net Operating Income (NOI) of $214,999, resulting in a 9.25% cap rate and a price per square foot of $186.02. The asking price for this exceptional investment is $2,324,314. This strategically located retail corner offers excellent visibility and multiple access points, including a drive-thru pharmacy, making it highly resistant to e-commerce competition. The property benefits from its location in a densely populated area of Chicago, with over 1,000,000 residents within a 5-mile radius. The investment offers 100% depreciation advantages. There are no rent bumps included in the lease.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9535

Longitude

-87.7279

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