NN Leased Walgreens Investment
835 W Galena Ave, Freeport, IL 61032
NN leased Walgreens in Freeport, IL with corporate guarantee.
Type:Retail
Property size:
12,032 SFPrice / SF:
$135/SF- Added:
- Feb 17, 2022
- Days on Market:
- 1555
- Last Refresh:
- May 13 at 8:18 pm
Property Features for 835 W Galena Ave
General Information
- Standard status
- Active
- Size
- 12,032 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1991
Listing agent Sean Lutz License #IL 475132482
Listing office SRS Real Estate Partners Chicago
Listing date Feb 17, 2022
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 SRS Real Estate Partners Chicago
HighLights
- NN Lease with Corporate Guarantee (S&P: BBB) from Walgreens, a Fortune 500 company, offering a stable, low‑risk investment.
- Tenant has operated at this location for over 20 years and recently extended their lease, demonstrating a strong commitment to the site.
- Located at a high‑traffic, signalized corner (32,300 vehicles per day) in a dense retail corridor, ensuring high visibility and accessibility.
- NN lease structure with limited landlord responsibilities, ideal for a passive investor seeking minimal management.
- Proximity to FHN Memorial Hospital (100 beds) and several residential complexes provides a strong, built‑in customer base.
- Located within a 5‑mile trade area supported by over 28,300 residents and 17,500 daytime employees, with a solid average annual household income.
Overview
This NN leased Walgreens investment property is located in Freeport, IL. The tenant, Bond Drug Company of Illinois, LLC, has over 3 years remaining on their initial term with 5 (5-year) option periods left to extend. The tenant has operated at this location for more than 20 years and extended their lease by an additional 10 years. The lease is guaranteed by the corporate entity and is NN with limited landlord responsibilities. Walgreens operates more than 9,200 stores across all 50 states. Walgreens is strategically located at the signalized, hard corner intersection of W. Galena Avenue and State Highway 26, averaging a combined 32,300 vehicles passing by daily. The asset is a quick 34-minute drive into Downtown Rockford. The property is situated within a dense retail corridor and is within walking distance to Lincoln Mall, a 185,000 SF Community Center anchored by Bargain Maxx and Dollar General. Walgreens is one-mile north FHN Memorial Hospital (100 beds). The asset is within close proximity to several single-family communities and multi-family complexes including Brewster Apartments (59 unit), Lincoln Towers (100 units), Hosmer High Rise (120 units). The 5-mile trade area is supported by over 28,300 residents and 17,500 daytime employees, with an average annual household income of $57,607. The property size is 12,032 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Drug stores
Similar Places Nearby
- Walgreens Pharmacy — 835 W Galena Ave, Freeport, IL 61032
- Nicole R. Gerber, Pharm — 835 w galena ave, freeport, il 61032
- Brian Reusch — 835 W Galena Ave, Freeport, IL 610323973
- Nicole Gerber — 835 W Galena Ave, Freeport, IL 610323973
- Skin Beauty by Stacie Green — 6 E Stephenson St, Freeport, IL 61032
Location Insight
- Map
- Local Demand
- City
- Freeport
- County
- Stephenson
- State
- Illinois
- Longitude
- -89.6328669
- Latitude
- 42.30138
Nearby Similar for Sale
FAQs
What type of property is this?
Drug store - NN leased Walgreens in Freeport, IL with corporate guarantee.
Where is this drug store located?
The property is located at 835 W Galena Ave Freeport, IL.
What is the asking price?
The asking price for this property is $1,636,000.
What are key features of this property?
This property features: NN Lease with Corporate Guarantee (S&P: BBB) from Walgreens, a Fortune 500 company, offering a stable, low‑risk investment.; Tenant has operated at this location for over 20 years and recently extended their lease, demonstrating a strong commitment to the site.; **Located at a high‑traffic, signalized corner (32,300 vehicles per day) in a dense retail corridor, ensuring high visibility and accessibility.**
