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Retail Property with Long-Term Lease

1614 W 47th St, Chicago, IL

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For Sale

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

Type:RETAIL

Property size:

13,891 SF

Lot size:

0.92 Acres

HighLights

Corporate lease signed by Walgreen Co.
Over 13 years remaining on the lease.
12 (5‑year) option periods to extend the lease.
5% rental increases every 5 years.
5% rental increases at the beginning of each option period.
Growing Net Operating Income (NOI).

We can help!

Listing Contact

Dan Elliot

For Sale

Contact for pricing

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

Type:RETAIL

Property size:

13,891 SF

Lot size:

0.92 Acres

Added:: Aug 1, 2025
Days on Market:: 314
Last Refresh:: May 20 at 8:08 pm

Property Features for 1614 W 47th St

General Information

Standard status: Active
Size: 13,891 SF
Lot size: 0.92 Acres
Property subtype: RETAIL

We can help!

Listing Contact

Dan Elliot

Listing agent Dan Elliot License #CA 01732226

Listing office SRS Real Estate Partners | Chicago

Listing date Aug 1, 2025

Source Moodyscre

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 SRS Real Estate Partners | Chicago

HighLights

Corporate lease signed by Walgreen Co.
Over 13 years remaining on the lease.
12 (5‑year) option periods to extend the lease.
5% rental increases every 5 years.
5% rental increases at the beginning of each option period.
Growing Net Operating Income (NOI).

Overview

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 Location Intelligence

Current Use by Public Records

Walgreens Photo (Bike/Boat/Book/etc) Store Walgreens Pharmacy Pharmacy Redbox Cinema Citibank ATM Atm Walgreens Pharmacy

Suggested Use

Similar Places Nearby

Walgreens Pharmacy — 1614 W 47th St, Chicago, IL 60609
Rossy's Botanica — 4712 S Honore St, Chicago, IL 60609
47th Street Pharmacy — 1837 w 47th st, chicago, il 60609
Pablo Calderon — 1614 W 47th St, Chicago, IL 606093245
LaTanya Y. Mason, PharmD — 1614 W 47th St, Chicago, IL 60609

Location Insight

Map
Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.6659
Latitude: 41.809

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For sale
Drug stores
IL
Chicago
1614 W 47th St

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.

1614 W 47th St, Chicago, IL

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

Property Features for 1614 W 47th St

General Information

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Renovated Chicago Industrial Flex Warehouse

West Town Corner Retail Space

Turnkey Restaurant Venue with PPA License

Turnkey Restaurant Venue with PPA License

Turnkey Restaurant Venue with Licenses

Turnkey Restaurant Opportunity in Chicago

Prime Retail Space in Chicago

Chicago Office Building with Parking

Chicago Commercial Buildings For Sale

Chicago Commercial Space for Sale

Fulton River District Commercial Loft

Wicker Park Corner Retail Building

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