Property Details for 8400 171St St

Year built

2007

Lot size

1.45 lot acres

Property size

14,820 SF

Property type

Retail properties & Spaces

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a 14,820-square-foot Walgreens, operating under an absolute NNN lease with over 7 years remaining until 2032, plus ten 5-year renewal options. Located in Tinley Park, Illinois, within the Chicago MSA, this property boasts a 7.00% cap rate and a strong NOI of $405,000. The building, constructed in 2007, sits on a 1.45-acre lot at a signalized intersection with high visibility and traffic counts exceeding 23,400 vehicles daily. Benefiting from proximity to major thoroughfares like South LaGrange Road (43,100 VPD) and Interstate 80 (122,400 VPD), the property enjoys excellent accessibility. The affluent surrounding community features over 174,000 residents within a five-mile radius, with an average household income exceeding $143,282 within one mile. This Walgreens location, operational since 2007, demonstrates a successful track record and benefits from its proximity to Victor Andrew High School and the Tinley Park Park District, ensuring consistent traffic. The asking price is $5,785,714, representing a compelling investment opportunity in a stable, high-traffic area with a nationally recognized tenant. The property's strong demographics, favorable lease terms, and high visibility make it an attractive addition to any portfolio. This is a truly exceptional opportunity to acquire a well-established, high-performing Walgreens property in a thriving market.

Location Insight

City

Tinley Park

County

Cook

State

Illinois

Longitude

-87.8234

Latitude

41.5806