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    39023 Green Bay Rd Beach Park, IL 60087

    For Sale
    $4,724,409

    High-traffic Chicago MSA location, strong tenant.

    Property size:
    14,547 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a 14,547-square-foot Walgreens, situated on a 2.02-acre lot at 39023 N Green Bay Rd, Beach Park, IL 60087. The property boasts a prime location on a signalized hard corner with high visibility, experiencing 27,700 vehicles daily. Built in 2005, this single-tenant, absolute NNN leased property benefits from a recent lease extension through March 31, 2034, providing a remaining lease term of 9.4 years with ten 5-year renewal options. The property offers a strong 6.35% cap rate and a substantial NOI of $300,000, with an asking price of $4,724,409 ($324.77/sq ft). The Walgreens location is strategically positioned within the Chicago MSA, a high-population area, and enjoys proximity to major roadways including Route 41 (31,700 VPD) and Interstate 94 (66,800 VPD), as well as Waukegan National Airport. The surrounding area features a dense population exceeding 127,000 within a five-mile radius, with an average household income exceeding $113,848 within one mile. The property's proximity to Illinois State Beach Park, attracting over 1.25 million visitors annually, further enhances its desirability. Limited drug store competition in the immediate area ensures sustained market strength. This is a rare opportunity to acquire a well-established, high-performing Walgreens investment in a prime location.

    Property Features for 39023 Green Bay Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,547 SF
    Lot Size
    87,991 SF

    Building Details

    Year Built
    2005

    HighLights

    • 14,547 SF Walgreens on a 2.02‑acre lot in the Chicago MSA.
    • Walgreens, ranked #27 on the Fortune 500, is the tenant.
    • Recent lease extension through March 2034 with ten 5‑year options.
    • NNN lease with established operations since 2005.
    • High‑visibility location on a signalized hard corner with 27,700 VPD.
    • Excellent access to Route 41 (31,700 VPD) and I‑94 (66,800 VPD), near Waukegan National Airport.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Carol Comstock, RPH Pharmacy Skincare Solutions Store Skin Care Clinic Walgreens Drug Store COVID-19 Drive-Thru Testing ... Pharmacy Walgreens Pharmacy Pharmacy

    Suggested Use

    Realty agency Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Gym & Fitness Pharmacy Auto Parts Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Beach Park
    County
    Lake
    State
    Illinois
    Longitude
    -87.8757884
    Latitude
    42.4289804

    Nearby Comparable

    • $3,870,968
      14,547 SF

      Walgreens NNN Lease Opportunity

      NNN leased Walgreens in Chicago MSA with recent lease extension.
      39023 N Green Bay Rd, Beach Park, IL 60099
      View Details
    • $750,000
      1.36 Acres

      Beach Park Commercial Corner Lot

      1.36 acre corner lot with high traffic visibility.
      12640 W Wadsworth Rd, Beach Park, IL 60087
      View Details

    Nearby Similar for Sale

    • $405,000

      Beach Park Mixed-Use Opportunity

      Multi-parcel commercial site with high visibility and development potential.
      38488 N Sheridan Rd, Beach Park, IL 60087
      View Details
    • $3,870,968
      14,547 SF

      Walgreens NNN Lease Opportunity

      NNN leased Walgreens in Chicago MSA with recent lease extension.
      39023 N Green Bay Rd, Beach Park, IL 60099
      View Details
    • Contact for pricing
      2,322 SF

      Wadsworth Road Redevelopment Opportunity

      Property suitable for reuse or redevelopment in Beach Park, IL.
      11411-1143 W Wadsworth Rd, Beach Park, IL 60099
      View Details

    FAQs

    What type of property is this?
    Individual retail property - High-traffic Chicago MSA location, strong tenant.
    Where is this individual retail property located?
    The property is located at 39023 Green Bay Rd Beach Park, IL.
    What is the asking price?
    The asking price for this property is $4,724,409.
    What are key features of this property?
    This property features: 14,547 SF Walgreens on a 2.02-acre lot in the Chicago MSA.; Walgreens, ranked #27 on the Fortune 500, is the tenant.; Recent lease extension through March 2034 with ten 5-year options.
    (847) 562-0003
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    39023 Green Bay Rd Beach Park, IL 60087
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