Net Leased Walgreens in Beach
39023 N Green Bay Rd, Beach Park, IL 60087
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Single tenant Walgreens with extended lease through March 2034.
Type:Retail
Property size:
14,547 SFPrice / SF:
$266/SF- Added:
- Jan 13, 2026
- Days on Market:
- 165
- Last Refresh:
- May 12 at 8:05 pm
Property Features for 39023 N Green Bay Rd
General Information
- Standard status
- Active
- Size
- 14,547 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2005
Listing office The Boulder Group (847) 562-0003
Listing date Jan 13, 2026
Source Crexi
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 The Boulder Group
HighLights
- Long‑term lease with Walgreens through March 2034
- Absolute triple net (NNN) lease structure provides zero landlord responsibilities
- Located at a signalized hard corner with high traffic volume (27,700 VPD)
- Strong demographics with a large population and high average household income ($113,848) within one mile
- Strategic location with limited competition and proximity to major transportation routes
- Established Walgreens location operating successfully since 2005
Overview
The property is a single tenant net leased Walgreens located within the Chicago MSA in Beach Park, Illinois. The 14,547 square-foot building has been operating since its construction in 2005. Walgreens has extended their lease through March 2034, and the lease is absolute triple net, offering no landlord responsibilities and featuring ten 5-year renewal options. The building benefits from its position on a signalized hard corner along Green Bay Road and Wadsworth Road, which experience 27,700 vehicles per day. The property is located in an area with limited competition, with over 127,000 people living within a five-mile radius. The population within one mile earns an average household income of $113,848. The asset is adjacent to Waukegan National Airport and numerous single-family communities. It is also near Route 41 (31,700 VPD) and Interstate 94 (66,800 VPD). The property is less than a 10-minute drive from Illinois State Beach Park, which hosts over 1.25 million visitors annually. Walgreens is an American retail pharmacy chain founded in 1901. Operating nearly 8,500 stores across the United States, Walgreens serves approximately 9 million customers and patients daily, offering prescription medications, health and wellness products, and general merchandise.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $366.6k | $25.20 |
| − Vacancy | −$9.5k | −$0.66 |
| EGI | $357.1k | $24.54 |
| − OpEx | −$89.3k | −$6.14 |
| NOI | $267.8k | $18.41 |
14,547 SF · lease $25.20/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.83M
$3.35M – $4.46M
NOI $267,790 @ 7.0% cap · market cap 6.92%
Second Best
Retail
$2.13M
$1.86M – $2.48M
NOI $148,772 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$5.02M
$4.39M – $5.86M
NOI $351,569 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Carol Comstock, RPH
Pharmacy
Skincare Solutions Store
Medical Clinic
Walgreens
Pharmacy
COVID-19 Drive-Thru Testing ...
Pharmacy
Walgreens Pharmacy
Pharmacy
Similar Places Nearby
- Carol Comstock, RPH — 39023 N Green Bay Rd, Beach Park, IL 60087
- COVID-19 Drive-Thru Testing at Walgreens — 39023 N Green Bay Rd, Beach Park, IL 60087
- Walgreens Pharmacy — 39023 N Green Bay Rd, Beach Park, IL 60087
- Cheryl Tersip — 39023 N Green Bay Rd, Beach Park, IL 600871978
Location Insight
- Map
- Local Demand
- City
- Beach Park
- County
- Lake
- State
- Illinois
- Longitude
- -87.8757799
- Latitude
- 42.4290164
Nearby Similar for Sale
FAQs
What type of property is this?
Drug store - Single tenant Walgreens with extended lease through March 2034.
Where is this drug store located?
The property is located at 39023 N Green Bay Rd Beach Park, IL.
What is the asking price?
The asking price for this property is $3,870,968.
What are key features of this property?
This property features: Long‑term lease with Walgreens through March 2034; Absolute triple net (NNN) lease structure provides zero landlord responsibilities; Located at a **signalized hard corner with high traffic volume (27,700 VPD)**
