Walgreens Drug
For Sale
Contact for pricing
120 East Main Street, Streator, IL 61364
Long-term NN lease includes six five-year renewal options and limited landlord responsibilities.
Property Size13,000 SF
Price / SF$152.69
Days on Market398
Property Features for 120 East Main Street
General Information
Standard status
Active
Size
13,000 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$178,745
Building Details
Year Built
1994
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Northmarq Capital, LLC
Listed By:
BJ Feller · License #IL 471007951
Source:
Crexi
Added: Jul 29, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
The 13,000-square-foot Walgreens drug store was built in 1994 and has operated at 120 East Main Street for more than 30 years. The property is leased under an NN structure, with landlord obligations limited to the roof and structure.
The lease provides six five-year renewal options. The property is located in Streator, Illinois, within a local economy supported by Vactor Manufacturing, OSF HealthCare, Owens-Illinois, and U.S. Foods.
The lease provides six five-year renewal options. The property is located in Streator, Illinois, within a local economy supported by Vactor Manufacturing, OSF HealthCare, Owens-Illinois, and U.S. Foods.
Key Highlights
- Walgreens has operated at the property for more than 30 years
- 13,000‑square‑foot drug store built in 1994
- NN lease structure with landlord responsibility limited to roof and structure
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$173,399
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,467,980
$3.5M
Cap Rate 7%
$2,477,129
$2.5M
Cap Rate 9%
$1,926,656
$1.9M
Market Conditions
NOI Build-Up for 13,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$246.5K $18.96/SF
− Vacancy
−$15.3K −$1.18/SF
EGI
$231.2K $17.78/SF
− OpEx
−$57.8K −$4.45/SF
NOI
$173.4K $13.34/SF
Area
LaSalle, IL
La Salle County, LA
Vacancy
6.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,467,980
Cap Rate 7%
$2,477,129
Cap Rate 9%
$1,926,656
Alternative Uses
Best Use
Specialty Retail
$2.48M
$2.17M – $2.89M
NOI $173,399 @ 7.0% cap · market cap 8.74%
Second Best
Retail
$1.68M
$1.47M – $1.97M
NOI $117,936 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$3.25M
$2.85M – $3.80M
NOI $227,760 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61364, IL
18,449
Population
9,251
Households
2
Avg Household Size
43
Median Age
13%
College-Educated
90%
High-School Grad
157.3 sq mi
ZIP Area
117
Density / Sq Mi
$57,147
Median Household Income
$37,866
Median Earnings
$810
Median Rent
$97,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Walgreens Pharmacy — 120 E Main St, Streator, IL 61364
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- Mark T. Doherty, RPh — 120 e main st, streator, il 61364
- COVID-19 Drive-Thru Testing at Walgreens — 120 E Main St, Streator, IL 61364
Frequently Asked Questions
What type of property is this?
Drug store - Long-term NN lease includes six five-year renewal options and limited landlord responsibilities.
Where is this drug store located?
The property is located at 120 East Main Street Streator, IL.
What is the asking price?
The asking price for this property is $1,985,000.
What are key features of this property?
This property features: Walgreens has operated at the property for more than 30 years; 13,000‑square‑foot drug store built in 1994; NN lease structure with landlord responsibility limited to roof and structure
