2871 Pfingsten Rd Glenview, IL 60026-1153

Property Details for 2871 Pfingsten Rd

Property type

Community centers

APN

04-21-110-023

APU

421110023

Description

This exceptional investment opportunity presents a fee-simple interest in a Walgreens property located at 2871 Pfingsten Rd, Glenview, IL 60026. The 15,167 square-foot, Class A retail building, built in 1991 and fully renovated in 2014, features a drive-thru pharmacy and sits on a 1.62-acre lot. The property benefits from a strong, credit-rated corporate guarantee under an absolute NNN lease with 11 years remaining (plus eleven five-year options). The lease commenced November 10, 2015, and expires November 30, 2035. The property boasts a 5.85% cap rate and a net operating income (NOI) of $494,250, with a price per square foot of $557.13 and an asking price of $8,450,000. Strategically located within the Glenbrook Marketplace in the affluent North Shore suburb of Glenview, this property enjoys high visibility and significant foot traffic. The property's location within a densely populated area (over 84,000 residents within a 3-mile radius) ensures consistent profitability and long-term value. This is a rare opportunity to acquire a high-performing, investment-grade Walgreens property with a long-term lease and significant upside potential. The property is offered as a 1031 exchange opportunity.

Location Insight

City

Glenview

County

Cook

State

Illinois

Longitude

-87.8476

Latitude

42.1067

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments