Walgreens
4009 Old Orchard Road, Skokie, IL 60076
For Sale
Contact for pricing
The single-tenant building is occupied by Walgreens under a long-term lease.
Property Size14,490 SF
Lot Size0.94 Acres
Price / SF$427.88
Days on Market44
Property Features for 4009 Old Orchard Road
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Gross Income
Corner Location
Tenant in Place
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Northmarq - Chicago
Listed By:
Joshua Dicker · License IL 475.188290
Source:
Crexi
Added: Oct 1
Changed: Nov 12
Last Checked: Nov 12 at 7:10AM
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 - Chicago
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding drugstore contains 14,490 square feet on a 0.94-acre site and was built in 2014. Walgreens occupies the property as its sole tenant, with the lease extending through October 31, 2034. The building is positioned at the southwest corner of Crawford Avenue and Old Orchard Road in Skokie’s North Shore retail corridor.
Westfield Old Orchard is approximately 1.1 miles west on Old Orchard Road. Nearby activity also includes Endeavor Health Skokie Hospital and retail areas serving Skokie and neighboring North Shore communities. Westfield Old Orchard’s planned mixed-use redevelopment calls for more than 600 apartment homes, additional retail and restaurant space, public gathering areas, structured parking, and either a 200-key hotel or more residential units.
Westfield Old Orchard is approximately 1.1 miles west on Old Orchard Road. Nearby activity also includes Endeavor Health Skokie Hospital and retail areas serving Skokie and neighboring North Shore communities. Westfield Old Orchard’s planned mixed-use redevelopment calls for more than 600 apartment homes, additional retail and restaurant space, public gathering areas, structured parking, and either a 200-key hotel or more residential units.
Key Highlights
- 14,490‑square‑foot building on 0.94 acres
- Built in 2014 and occupied by Walgreens as its sole tenant
- Lease runs through October 31, 2034
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$242,563
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,851,260
$4.9M
Cap Rate 7%
$3,465,186
$3.5M
Cap Rate 9%
$2,695,144
$2.7M
Market Conditions
NOI Build-Up for 14,490 SF
Gross rent
$347.8K $24.00/SF
− Vacancy
−$24.3K −$1.68/SF
EGI
$323.4K $22.32/SF
− OpEx
−$80.9K −$5.58/SF
NOI
$242.6K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,851,260
Cap Rate 7%
$3,465,186
Cap Rate 9%
$2,695,144
Alternative Uses
Best Use
Specialty Retail
$3.47M
$3.03M – $4.04M
NOI $242,563 @ 7.0% cap · market cap 3.91%
Second Best
Retail
$2.91M
$2.55M – $3.40M
NOI $203,807 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$5.56M
$4.87M – $6.49M
NOI $389,491 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
20k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 28%
Starbucks
Dining
11,617 visits/mo
0.3 miles
Shell
Shops & Services
5,637 visits/mo
0.5 miles
SUBWAY
Dining
2,991 visits/mo
0.3 miles
Demographics for 60076, IL
34,295
Population
11,908
Households
2.9
Avg Household Size
42
Median Age
52%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
6,725
Density / Sq Mi
$103,870
Median Household Income
$50,336
Median Earnings
$1,576
Median Rent
$381,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Jewel-Osco Pharmacy — 9449 Skokie Blvd, Skokie, IL 60077
- Herbert Jan — 9449 Skokie Blvd, Skokie, IL 600771312
- American Body Science — 9449 Karlov Ave, Skokie, IL 60076, United States
- ProHealth Pharmacy — 4709 Golf Rd # 110, Skokie, IL 60076
- Elizabeth G. Young Hill, PharmD — 4711 Golf Rd, Skokie, IL 60076, United States
Frequently Asked Questions
What type of property is this?
Drug store - The single-tenant building is occupied by Walgreens under a long-term lease.
Where is this drug store located?
The property is located at 4009 Old Orchard Road Skokie, IL.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 14,490‑square‑foot building on 0.94 acres; Built in 2014 and occupied by Walgreens as its sole tenant; Lease runs through October 31, 2034
