840 Main StGlen Ellyn, IL 60137

Property Details for 840 Main St

Year built

2004

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.55 AC

Property size (Sq ft)

14,543 SF

Property type

Retail space

APN

05-02-312-013

APU

502312013

Description

This exceptional investment opportunity presents a 14,543 square foot Walgreens located at 840 N Main St, Glen Ellyn, IL 60137, a thriving Chicago suburb. Boasting a 7.43% cap rate and a strong NOI of $420,000, this property offers significant return potential. The single-tenant, net-leased property features a Walgreens corporate guarantee, ensuring consistent rental income through March 31, 2030, with seven, five-year extension options. Situated on a 1.549-acre lot at a signalized corner of St. Charles Road and Main Street, this location benefits from high visibility and over 20,000 vehicles daily. The affluent area boasts a 5-mile population exceeding 302,000, with a median household income of $118,208. Proximity to four hospitals within a 15-minute radius further enhances the property's value by supporting prescription demand. The convenient drive-thru lane adds to the property's appeal and operational efficiency. Built in 2004, this Walgreens offers a combination of strong financial performance, a secure lease, and a prime location in a high-growth market, making it an ideal investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $3,860,090

  6.5%

  $3,563,160

  7%

  $3,308,648

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,720,658

  Geo Method

  $4,773,449

• Alternative Use

  Use

  Valuation

  Residential

  $3,005,658

  Hospitality

  $2,753,167

  Educational

  $2,290,602

  Medical

  $2,369,380

  Retail

  $3,563,160

Location Insight

City

Glen Ellyn

County

Dupage

State

Illinois

Latitude

41.8905

Longitude

-88.0642

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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