Retail N Illinois

Interra Realty closes on suburban Chicago CVS ground lease for $4.8M

  

Interra Realty brokers Craig Martin and Colin O'Malley closed on the sale of a CVS ground lease for $4,800,000 million in Chicago's Highland Park suburb.

The 13,225-square-foot property is located at 2000 Skokie Valley Rd. on a 1.78-acre lot and was developed in 2011.

Interra represented both the buyer, a local family in a 1031 exchange, and the seller, a real estate developer in the area. The property has more than 20 years remaining on the single-tenant CVS lease and no landlord responsibilities.