Property History
Property Type
Property Type
Property Subtype
Asking Details
Asking Cap Rate
Marketing Description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant, absolute triple-net leased Walgreens located at 390 E 162nd Street in South Holland, Illinois (the “Property”). Walgreens has been at the Property since its construction in 2006 and has 10+ years remaining on an absolute triple-net lease with ten (10), 5-year renewal options. The Property is situated on a highly visible parcel at a signalized intersection of E 162nd Street (US Route 6) and South Park Avenue. E 162nd Street (US Route 6) is the area’s primary commercial and commuter corridor traversing South Holland. US Route 6 connects South Holland with Joliet to the west and Hammond, IN to the east. The Property is extremely well located at the commercial center of the city and benefits from outstanding visibility and access along US Route 6 and is just 1-mile from Interstate 94. The Property is surrounded by the area’s national retailers and is 1-mile from South Suburban College.
Investment Highlights
- LONG TERM LEASE: Walgreens has 10+ years remaining on their primary lease followed by ten (10), 5-year renewal options.
- STRONG STORE SALES: Walgreens has consistently demonstrated strong unit sales at this location, Walgreen’s most recent reported sales were $4,445,208 from April 2020 through March 2021.
- ZERO MANAGEMENT RESPONSIBILITIES: The Walgreens lease is absolute triple net and requires zero management responsibilities making it an attractive fee simple investment for the passive real estate investor.
- INVESTMENT GRADE CREDIT: The lease is fully guaranteed by Walgreens corporate credit. Walgreens parent, Walgreens Boot Alliance (NYSE: WBA), is a publicly traded company and reported 2020 sales of $139.5 billion, up 2% year-over-year. year. The company holds an investment grade credit rating of BBB (S&P) and Baa2 (Moody’s).
- STRATEGIC RETAIL LOCATION: The Property is situated on a highly visible parcel at a signalized intersection of E 162nd Street (US Route 6) and South Park Avenue. The Property enjoys outstanding visibility, frontage and access along E 162nd Street (US Route 6), South Park Avenue, and E 161st Street. E 162nd Street (US Route 6) is the area’s primary commercial and commuter corridor connecting South Holland with Joliet to the west and Hammond, IN to the east. The Property is 1-mile from Interstate 94 and South Suburban College.
- RETAIL TRADE AREA: Additional national retailers drawing traffic to the trade area include the River Oaks Center, Sam’s Club, Jewel-Osco, ALDI, Big Lots, Dollar General, Dollar Tree, O’Reilly Auto Parts, Applebee’s, Outback, Panera, McDonald’s, Starbucks, Popeye’s, Chipotle, Buffalo Wild Wings, Wendy’s, Burger King, Denny’s, Arby’s, KFC, Taco Bell, White Castle, Sonic, and Domino’s.
- TRAFFIC COUNTS: More than 42,000 vehicles per day pass by the Property at the signalized intersection of E 162nd Street (US Route 6) and South Park Avenue.
- DEMOGRAPHICS: There are approximately 96,000+ people living within 3-miles of the property, and an impressive 250,400 people living within 5-miles of the Property with average household incomes of $67,402. There are an additional 88,400 employees within 5-miles of the Property.
Loan History
Financial History
****** Data
Net Operating Income
Reporting Date
Tax History
Contact Information
These phone numbers and email addresses are checked against the litigator and TCPA lists. Report an error
Ownership Information
Property Details
There are no additional details for this property
Contacts
Sold on
BY:
Bob Horvath PRO
•••.•••.4003
••••vath@••••••••.com
Sold on
BY:
Todd Tremblay PRO
•••.•••.4001
•••••blay@••••••••.com
Map
Comparable Properties
Does any data look off? Help us improve Crexi by offering your feedback!
