The Boulder Group completed the sale of a single-tenant net-leased CVS Pharmacy at 3951 W. 103rd St. in Chicago for $5,338,000.
The 15,414-square-foot property is strategically positioned at the signalized intersection of West 103rd Street (23,000 VPD) and Pulaski Road (29,300 VPD), two of the area’s primary traffic arteries on Chicago’s southwest side.
The CVS operates as a 24-hour location, built in 2002 on approximately 1.56 acres of land. The property sits within a dense retail corridor anchored by nationally recognized retailers including Target, Home Depot, Walmart, Sam’s Club, Jewel-Osco, Aldi, Menards, Meijer, Whole Foods Market, Mariano’s, and Staples. The site is immediately adjacent to Saint Xavier University, which serves a student population of approximately 3,300, and is near Brother Rice High School and Evergreen Park High School. Advocate Christ Medical Center and Advocate Children’s Hospital are also located in close proximity.
Randy Blankstein, Jimmy Goodman and John Feeney of The Boulder Group represented the seller in the transaction. The seller was a Northeast-based real estate investment company. The buyer, a self-represented real estate trust, acquired the property.
The absolute triple net lease presents no landlord responsibilities, making it a passive investment for the new owner. CVS recently executed a long-term lease extension through January 2039, demonstrating significant commitment to this location after more than two decades of continuous operation. The lease features ten 5-year renewal options with 5% rental escalations in each option period, providing the investor with a reliable long-term income stream. Portions of the property are master leased by CVS to Subway and CD One Price Cleaners, both of which have been operating from this location since 2002 and 2003, respectively.
