Ground-Leased CVS
For Sale
Contact for pricing
Pending
1818 Philo Road, Urbana, IL 61802
Ground lease CVS pharmacy on a 0.9-acre lot with drive-through and multiple access points at a road intersection.
Property SizeContact for details
Lot Size0.90 Acres
Days on Market150
Property Features for 1818 Philo Road
General Information
Standard status
Pending
Lot size
0.90 Acres
Property subtype
Retail
Additional Details
Highway Access
Yes
Listing Agency:
Encore Real Estate Investment Services
Listed By:
Brandon Hanna · License #6501349119
(248) 702-0280
Source:
Crexi
Added: Apr 10
Changed: Sep 2
Last Checked: Sep 4 at 5:30AM
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 Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
Encore REIS presents a ground lease CVS Pharmacy on a 0.9-acre lot. The property includes a drive-through configuration with multiple points of access. The original tenant was Osco Drug, later acquired by CVS, and the lease carries the full CVS corporate guarantee. The ground lease structure is described as having zero landlord responsibilities. The initial ground lease commenced in 1999, and in 2006 CVS exercised an early renewal, picking up two of their four available five-year option periods, 13 years early. Current lease term is over 11 years plus two remaining five-year options. The lease includes a rental decrease effective in 2019, with subsequent rental increases in 2024 and during the remaining option periods.
Located on the northeast corner of South Philo Road and East Colorado Avenue in Urbana, Illinois, the property is in the Urbana Enterprise Zone, making it eligible for sales tax exemptions and property tax abatements if future renovations are needed. Urbana is stated as being easily accessible by Interstates 74, 72, and 57, approximately 140 miles southwest of Chicago and approximately 125 miles west of Indianapolis, Indiana.
Located on the northeast corner of South Philo Road and East Colorado Avenue in Urbana, Illinois, the property is in the Urbana Enterprise Zone, making it eligible for sales tax exemptions and property tax abatements if future renovations are needed. Urbana is stated as being easily accessible by Interstates 74, 72, and 57, approximately 140 miles southwest of Chicago and approximately 125 miles west of Indianapolis, Indiana.
Key Highlights
- Ground lease CVS Pharmacy on a 0.9‑acre lot with drive‑through and multiple points of access
- NE corner of S Philo Rd and E Colorado Ave in Urbana, IL; full CVS corporate guarantee with original tenant Osco Drug
- Initial ground lease began in 1999; CVS exercised two option periods early, leaving 11+ years of term plus two five‑year options
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
41k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 46%
Electronics 5%
McDonald's
Dining
15,593 visits/mo
0.2 miles
Dollar Tree
Shops & Services
8,900 visits/mo
0.2 miles
Marathon
Shops & Services
6,061 visits/mo
0.2 miles
BP
Shops & Services
4,309 visits/mo
0.1 miles
Papa John's Pizza
Dining
2,200 visits/mo
0.3 miles
Demographics for 61802, IL
19,460
Population
10,066
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
92%
High-School Grad
82.1 sq mi
ZIP Area
237
Density / Sq Mi
$58,588
Median Household Income
$40,600
Median Earnings
$996
Median Rent
$158,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Drug store - Ground lease CVS pharmacy on a 0.9-acre lot with drive-through and multiple access points at a road intersection.
Where is this drug store located?
The property is located at 1818 Philo Road Urbana, IL.
What are key features of this property?
This property features: Ground lease CVS Pharmacy on a 0.9‑acre lot with drive‑through and multiple points of access; NE corner of S Philo Rd and E Colorado Ave in Urbana, IL; full CVS corporate guarantee with original tenant Osco Drug; Initial ground lease began in 1999; CVS exercised two option periods early, leaving 11+ years of term plus two five‑year options
