Walgreens

6140 N. Western Ave, Chicago, IL
Deal Type:
Net Lease
Price:
$12,245,312
Cap Rate:
4.65%
Current Rent:
$569,407
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 13.75 years
Renewal Options:
10, 5-Year Options
Building Sq. Ft.:
13,968 SF
Site Size:
.68 Acres

Investment Highlights

  • Long term, absolute NNN lease with no landlord maintenance responsibilities
  • Rare 25-year lease term with over 13.5 years remaining and 10, 5-yr options to extend the lease
  • Escalating rent increases exceed 5% throughout the lease term and options
  • Primary term increases of 5.71% (2025) and 5.94% (2030)
  • Option rent increases every 5 years ranging from 6.17% to 7.92%
  • Situated at the signalized intersection of Western and Granville on Chicago‚Äôs north side
  • Densely populated location with more than 416,000 people and average household incomes of $96,500 within 3 miles

Listing Agents

Dean Copans

Managing Director
650 465 3993
Dean@stream-cp.com

Graham Gold

Vice President
314 324 8792
Graham@stream-cp.com

Jordan Shtulman

Managing Principal
847 226 4133
Jordan@stream-cp.com

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