Ground-Leased CVS
1818 Philo Road Urbana, IL 61802
1818 Philo Road, Urbana, IL, 61802
Contact for pricing
For Sale
Contact for pricing
Pending
Ground lease CVS pharmacy on a 0.9-acre lot with drive-through and multiple access points at a road intersection.
Lot Size0.90 Acres
Days on Market103
Property Features for 1818 Philo Road
General Information
- Standard status
- Pending
- Lot size
- 0.90 Acres
- Property subtype
- Retail
Listing agency
Encore Real Estate Investment Services
(248) 702-0280
Listed by
Brandon Hanna · License #MI 6501349119
Source
Crexi
Added: Apr 10 Updated: Jul 21 at 4:11AM Checked: Jul 21 at 4:11AM
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
Location Intelligence
Current Use by Public Records
Cardtronics
Atm
CVS Pharmacy
Pharmacy
CVS
Pharmacy
MoneyGram
Bank
Coinhub Bitcoin ATM ...
Atm
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FAQs
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
