Marcus & Millichap negotiated the sale of a net-leased Walgreens location in Chicago for $2.1 million.
Sean Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a Limited Liability Company, and procured a local 1031 buyer that paid all cash with post-closing financing lined up. The deal closed on schedule per the original PSA dates.
The 13,000-square-foot Walgreens property, located at 4704 S. Halsted St., is visible to nearly 25,000 vehicles per day. Built in 1993, the property is less than a mile from Interstate 90 and sits adjacent to a Dunkin’ and a heavily visited grocery-anchored shopping center. Walgreens has operated at this location since its construction and has 4.7 years remaining on its lease with a corporate guarantee. This Walgreens location operates with below-market rents for an urban Chicago hard-corner location.
