Building Details

Stories 1

Tenancy Single

Listed By: Jason Sorce · License #471016013

Source: Crexi

Added: Mar 31 Changed: Oct 1 Last Checked: Oct 16 at 6:22AM

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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 Jason Sorce

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Investment Insights

Based on property information with market context.

This vacant drug store property comprises 15,120 square feet and is identified with the Walgreens brand. The asset is located at 9148 S Commercial Ave in Chicago, Illinois, within the South Side corridor. It is offered for sale and carries a retail-oriented property classification.

Key Highlights

• 15,120‑square‑foot vacant drug store property
• Walgreens‑branded property identified as vacant
• Located at 9148 S Commercial Ave, Chicago, IL 60617

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$209,182

Cap Rate

8.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,183,640 $4.2M

Cap Rate 7%

$2,988,314 $3.0M

Cap Rate 9%

$2,324,244 $2.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,120 SF

Gross rent

$326.6K $21.60/SF

− Vacancy

−$27.8K −$1.84/SF

EGI

$298.8K $19.76/SF

− OpEx

−$89.6K −$5.93/SF

NOI

$209.2K $13.83/SF

Area

Chicago, IL

Vacancy

8.50%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,183,640

Cap Rate 7%

$2,988,314

Cap Rate 9%

$2,324,244

Alternative Uses

Best Use

Specialty Retail

$4.02M

$3.52M – $4.69M (±1% cap)

NOI $281,413 @ 7.0% cap · market cap 11.73%

Second Best

Retail

$2.99M

$2.61M – $3.49M (±1% cap)

NOI $209,182 @ 7.0% cap · market cap 8.72%

Theoretical Best

Office A

$7.13M

$6.24M – $8.32M (±1% cap)

NOI $499,033 @ 7.0% cap · market cap 20.79%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Walgreens Pharmacy Pharmacy Walgreens Pharmacy COVID-19 Drive-thru Testing ... Pharmacy FedEx OnSite Postal Service Walgreens Photo (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Building Supply HVAC Service Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

960

Businesses Nearby

64k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 46% Shops & Services 44% Apparel 6% Electronics 4%

McDonald's Dining

25,748 visits/mo 0.1 miles

Citgo Shops & Services

9,483 visits/mo 0.5 miles

Family Dollar Shops & Services

9,226 visits/mo 0.1 miles

AutoZone Shops & Services

5,163 visits/mo 0.4 miles

Fifth Third Bank & ATM Shops & Services

4,459 visits/mo 0.1 miles

Demographics for 60617, IL

77,270

Population

35,031

Households

2.2

Avg Household Size

39

Median Age

20%

College-Educated

82%

High-School Grad

13.7 sq mi

ZIP Area

5,640

Density / Sq Mi

$51,237

Median Household Income

$36,926

Median Earnings

$1,010

Median Rent

$168,200

Median Home Value

Market

Vacancy Rate% for Retail in Chicago, IL

9.1% 2019

9.2% 2020

8.8% 2021

8.1% 2022

7% 2023

6.6% 2024

7.4% 2025

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Similar Off Market Nearby

• Walgreens Pharmacy — 9148 S Commercial Ave, Chicago, IL 60617
• Vita medical solutions — work, 9204 s commercial ave, chicago, il 60617
• COVID-19 Drive-thru Testing at Walgreens — 9148 S Commercial Ave, Chicago, IL 60617

Frequently Asked Questions

What type of property is this?

Drug store - Vacant retail premises identified with the Walgreens brand in Chicago’s South Side corridor.

Where is this drug store located?

The property is located at 9148 S Commercial Ave Chicago, IL.

What is the asking price?

The asking price for this property is $2,400,000.

What are key features of this property?

This property features: 15,120‑square‑foot vacant drug store property; Walgreens‑branded property identified as vacant; Located at 9148 S Commercial Ave, Chicago, IL 60617