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    6016 63Rd St Chicago, IL 60638

    Sponsored
    For Sale
    $4,950,000

    High-Yield Walgreens NNN Lease

    Property size:
    14,050 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional investment opportunity presents a 14,050 square foot Walgreens located in Chicago, IL, at 6016 W 63rd St, 60638. The property boasts a 13-year absolute NNN lease with a credit-rated tenant, Walgreens (NASDAQ: WBA), commencing September 1, 2022, and expiring August 31, 2035, leaving 10.8 years remaining. The lease includes attractive 5% rent bumps every 5 years, minimizing landlord responsibilities. The property features 32 parking spaces and sits on a 0.77-acre lot, built in 2001. With a current NOI of $351,250 and an asking price of $4,950,000, this translates to a 7.10% cap rate and a price per square foot of $352.31. The property benefits from a dense population, with 22,750 individuals within a 1-mile radius, and its strategic location less than 3 miles from Chicago Midway International Airport and 10 miles from downtown Chicago. The property is situated on a hard corner at a signalized intersection, providing excellent visibility and accessibility. This stabilized investment offers a strong return with minimal management requirements, making it an ideal addition to any portfolio. The property enjoys 100% occupancy and benefits from the strong retail market in Chicago, the third largest economy in the nation. The lease includes 12 lease options.

    Property Features for 6016 63Rd St

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,050 SF
    Lot Size
    33,541 SF

    Building Details

    Year Built
    2001

    HighLights

    • 13‑Year NNN Lease, no landlord responsibilities.
    • Corporate Guarantee from Walgreens (NASDAQ: WBA).
    • High‑density location: 22,750 residents within one mile.
    • Favorable rent escalations: 5% every five years.
    • Conveniently located: Under 3 miles from Chicago Midway International Airport.
    • Close proximity to Chicago's central business district: 10 miles from downtown.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walgreens Drug Store COVID-19 Drive-Thru Testing ... Pharmacy Walgreens Pharmacy Pharmacy FedEx OnSite Mailing Service Walgreens Photo Passport Photo Processor

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7724129
    Latitude
    41.7780737

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    FAQs

    What type of property is this?
    Individual retail property - High-Yield Walgreens NNN Lease
    Where is this individual retail property located?
    The property is located at 6016 63Rd St Chicago, IL.
    What is the asking price?
    The asking price for this property is $4,950,000.
    What are key features of this property?
    This property features: 13-Year NNN Lease, no landlord responsibilities.; Corporate Guarantee from Walgreens (NASDAQ: WBA).; High-density location: 22,750 residents within one mile.
    Request Owner's contact information
    6016 63Rd St Chicago, IL 60638
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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
    6016 63Rd St Chicago, IL 60638
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