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835 W Galena Ave Freeport, IL 61032

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For Sale
$1,636,000

NN leased Walgreens in Freeport, IL with corporate guarantee.

Property size:
12,023 SF
Lot size:
0.98 Acres

Property Features for 835 W Galena Ave

General Information

Size
12,023 SF
Lot size
0.98 Acres

Source: SRS Real Estate Partners | Chicago Agent Sean Lutz

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


Overview

Walgreens NN Lease Investment Opportunity

This is a fee simple interest (land & building ownership) opportunity to acquire a NN leased, corporate guaranteed, investment grade Walgreens investment property in Freeport, IL (Rockford MSA). The tenant, Bond Drug Company of Illinois, LLC, has over 3 years remaining on their initial term with 5 (5-year) option periods left to extend. The tenant has operated at this location for more than 20 years and extended their lease by an additional 10 years, demonstrating long-term commitment to the site. The lease is guaranteed by the corporate entity and is NN with limited landlord responsibilities. Headquartered in Deerfield, IL, Walgreens operates more than 9,200 stores across all 50 states and was recently included in FORTUNE’s 2020 list of the World’s Most Admired Companies for the 27th consecutive year. Walgreens is currently ranked number 16 on the Fortune 500. The property is suitable for passive investors.
Insight Report Location Intelligence

Current Use by Public Records

Drug stores

Suggested Use

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

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

Similar Places Nearby

Walgreens Pharmacy, Nicole R. Gerber, Pharm, Brian Reusch, Nicole Gerber, Skin Beauty by Stacie Green

Location Insight

  • Map
  • Local Demand
City
Freeport
County
Stephenson
State
Illinois
Longitude
-89.6328669
Latitude
42.30138

FAQs

What type of property is this?
Drug store - NN leased Walgreens in Freeport, IL with corporate guarantee.
Where is this drug store located?
The property is located at 835 W Galena Ave Freeport, IL.
What is the asking price?
The asking price for this property is $1,636,000.
What are key features of this property?
This property features: - Corporate guaranteed lease by Walgreens (S&P: BBB), an investment-grade tenant.; - NN lease structure with limited landlord responsibilities, ideal for passive investors.; - Tenant has a long operating history (20+ years) at this location, demonstrating commitment.
More about this property
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