4001 Irving Park Rd, Chicago, IL 60641

Property Details for 4001 Irving Park Rd

Year built

2006

Lot size

0.57 lot acres

Property type

Retail properties & Spaces

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a 12,495 square foot Walgreens located at 4001 W Irving Park Rd, Chicago, IL 60641. The property sits on a 0.57-acre lot and features a single building constructed in 2006. This is an absolute NNN leasehold interest with a corporate guarantee from Walgreens Boots Alliance (NASDAQ: WBA), offering significant investment advantages and a passive income stream. The lease commenced on October 13, 2006, and has a remaining term of approximately 6.9 years, with a lease expiration date of October 12, 2031, and includes 10x5 lease options. The property boasts a 100% occupancy rate, generating a Net Operating Income (NOI) of $214,999, resulting in a 9.25% cap rate and a price per square foot of $186.02. The asking price for this exceptional investment is $2,324,314. This strategically located retail corner offers excellent visibility and multiple access points, including a drive-thru pharmacy, making it highly resistant to e-commerce competition. The property benefits from its location in a densely populated area of Chicago, with over 1,000,000 residents within a 5-mile radius. The investment offers 100% depreciation advantages. There are no rent bumps included in the lease.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.7279

Latitude

41.9535