Net-Leased Walgreens Corner
6301 South Kedzie Avenue Chicago, IL 60629
6301 South Kedzie Avenue, Chicago, IL, 60629
$3,900,000
For Sale
$3,900,000
Freestanding Walgreens property on a signalized four-way intersection at 63rd Street and Kedzie Avenue.
Property Size14,029 SF
Lot Size0.91 Acres
Price / SF$277
Days on Market68
Property Features for 6301 South Kedzie Avenue
General Information
- Standard status
- Active
- Size
- 14,029 SF
- Lot size
- 0.91 Acres
- Property subtype
- Retail - Freestanding
Building Details
- Year Built
- 2001
Listing agency
Network Commercial Real Estate
(708) 927-8000
Listed by
Neil Haleem · License #37077037778HN
Source
Commercialcafe
Added: May 15 Updated: Jul 21 at 4:48AM Checked: Jul 21 at 4:48AM
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 Network Commercial Real Estate
Investment Insights
Based on property information with market context.
This single-tenant, net-leased Walgreens property features a freestanding building of approximately 14,029 square feet on an approximately 39,558 square-foot site. The asset is located on the northeast corner of 63rd Street and Kedzie Avenue, positioned for strong street-facing exposure.
The property sits at a fully signalized four-way intersection along Kedzie Avenue. The location is reported to have approximately 33,000 vehicles per day and provides access and visibility in Chicago’s Chicago Lawn/West Lawn trade area. It also offers CTA bus accessibility and connectivity to nearby residential communities.
Walgreens has operated at this location since its original construction in 2001, and the lease has been extended through January 2029. The described net lease structure limits landlord responsibilities to roof and structural components.
The property sits at a fully signalized four-way intersection along Kedzie Avenue. The location is reported to have approximately 33,000 vehicles per day and provides access and visibility in Chicago’s Chicago Lawn/West Lawn trade area. It also offers CTA bus accessibility and connectivity to nearby residential communities.
Walgreens has operated at this location since its original construction in 2001, and the lease has been extended through January 2029. The described net lease structure limits landlord responsibilities to roof and structural components.
Key Highlights
- Net‑leased single‑tenant Walgreens on the northeast corner of 63rd St & Kedzie Ave in Chicago, IL
- Freestanding building with a +/-14,029 SF footprint on an approximately +/-39,558 SF site
- Located at a fully signalized four‑way intersection with approximately 33,000 vehicles per day
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 | $319.9k | $22.80 |
| − Vacancy | −$22.4k | −$1.60 |
| EGI | $297.5k | $21.20 |
| − OpEx | −$74.4k | −$5.30 |
| NOI | $223.1k | $15.90 |
14,029 SF · lease $22.80/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.19M
$2.79M – $3.72M
NOI $223,103 @ 7.0% cap · market cap 5.72%
Second Best
Retail
$2.77M
$2.43M – $3.23M
NOI $194,088 @ 7.0% cap · market cap 4.98%
Theoretical Best
Warehouse
$12.59M
$11.01M – $14.68M
NOI $880,952 @ 7.0% cap · market cap 22.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Drug stores
Similar For Sale Nearby
Similar Off Market Nearby
- Walgreens Pharmacy — 3019 W Peterson Ave, Chicago, IL 60659
- COVID-19 Drive-Thru Testing at Walgreens — 3019 W Peterson Ave, Chicago, IL 60659
- Jenny Cheung — 3019 W Peterson Ave, Chicago, IL 606593726
- Thinh Nguyen — 3019 W Peterson Ave, Chicago, IL 606593726
- Intense Heal — 5875 N Lincoln Ave, Chicago, IL 60659
FAQs
What type of property is this?
Drug store - Freestanding Walgreens property on a signalized four-way intersection at 63rd Street and Kedzie Avenue.
Where is this drug store located?
The property is located at 6301 South Kedzie Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Net‑leased single‑tenant Walgreens on the northeast corner of 63rd St & Kedzie Ave in Chicago, IL; Freestanding building with a +/-14,029 SF footprint on an approximately +/-39,558 SF site; Located at a fully signalized four‑way intersection with approximately 33,000 vehicles per day
