39023 Green Bay RdBeach Park, IL 60087

Property Details for 39023 Green Bay Rd

Lot size

2.02 AC

Property size (Sq ft)

14,547 SF

Property type

Commercial real estate

APN

04-30-304-015

APU

430304015

Description

This exceptional investment opportunity presents a 14,547-square-foot Walgreens, situated on a 2.02-acre lot at 39023 N Green Bay Rd, Beach Park, IL 60087. The property boasts a prime location on a signalized hard corner with high visibility, experiencing 27,700 vehicles daily. Built in 2005, this single-tenant, absolute NNN leased property benefits from a recent lease extension through March 31, 2034, providing a remaining lease term of 9.4 years with ten 5-year renewal options. The property offers a strong 6.35% cap rate and a substantial NOI of $300,000, with an asking price of $4,724,409 ($324.77/sq ft). The Walgreens location is strategically positioned within the Chicago MSA, a high-population area, and enjoys proximity to major roadways including Route 41 (31,700 VPD) and Interstate 94 (66,800 VPD), as well as Waukegan National Airport. The surrounding area features a dense population exceeding 127,000 within a five-mile radius, with an average household income exceeding $113,848 within one mile. The property's proximity to Illinois State Beach Park, attracting over 1.25 million visitors annually, further enhances its desirability. Limited drug store competition in the immediate area ensures sustained market strength. This is a rare opportunity to acquire a well-established, high-performing Walgreens investment in a prime location.

• Alternative Use

  Use

  Valuation

  Residential

  $3,006,485

  Hospitality

  $2,753,924

  Educational

  $2,291,233

  Medical

  $2,370,032

  Retail

  $3,564,140

Location Insight

City

Beach Park

County

Lake

State

Illinois

Latitude

42.429

Longitude

-87.8758

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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