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    1614 W 47Th St Chicago, IL 60609

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    For Sale
    Contact for pricing

    Retail property with a long-term lease and option periods.

    Property size:
    13,891 SF
    Lot size:
    0.92 Acres

    Property Features for 1614 W 47Th St

    General Information

    Size
    13,891 SF
    Lot size
    0.92 Acres

    Source: SRS Real Estate Partners | Chicago Agent Dan Elliot

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail Property with Long-Term Lease

    This retail property features a lease with over 13 years remaining, along with 12 (5-year) option periods for extension. The lease is corporate signed by Walgreen Co. The property includes 5% rental increases every 5 years and at the beginning of each option period.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor Walgreens Pharmacy Pharmacy Redbox Movie Rental Kiosk Citibank ATM Atm Walgreens Drug Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Walgreens Pharmacy, Rossy's Botanica, 47th Street Pharmacy, Pablo Calderon, LaTanya Y. Mason, PharmD

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.665861
    Latitude
    41.8089849

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    FAQs

    What type of property is this?
    Drug store - Retail property with a long-term lease and option periods.
    Where is this drug store located?
    The property is located at 1614 W 47Th St Chicago, IL.
    What are key features of this property?
    This property features: - Corporate lease signed by Walgreen Co.; - Over 13 years remaining on the lease.; - 12 (5-year) option periods to extend the lease.
    (312) 972-7978
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1614 W 47Th St Chicago, IL 60609
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