Property History
CHICAGO, IL MSA
This Walgreens occupies a strategic location within Lakemoor, IL, a Chicago MSA suburb only 19 miles from Walgreens corporate headquarters in Deerfield, IL. Chicago has been hailed for decades as the 3rd largest city in the nation, with an MSA population of 9.618M residents. The city is a major center for finance, commerce, transportation, and industry as a cultural powerhouse. Lakemoor attracts young professionals and families seeking a high quality of life, creating a strong customer base for this location.
‘NEWER’ STORE W/ HIGH-QUALITY CONSTRUCTION
Unlike the traditional prototypes of Walgreens stores that are primarily stucco, the subject property is one of the rare mostly brick construction ones. In fact, 2013 is the tail end of the Walgreens build-to-suit program as only 200 to 300 stores were developed in 2013 or later, making this one of the newer stores in the portfolio.
LIMITED COMPETITION
This Walgreens enjoys a strategic location within Lakemoor, establishing itself as the only drugstore within a 3-mile radius. This lack of immediate competition fosters a loyal customer base, ensuring a predictable and reliable income stream.
LONG TERM LEASE
With over ±14.4 years remaining on the lease term, this investment ensures consistent rental income for the foreseeable future from Walgreens, a leading national retail pharmacy chain.
MAJOR ASSISTED LIVING FACILITIES
Strategically located within 4 miles of six established assisted living facilities, including The Courtyard at McHenry, Riverside Resources, McHenry Villa, and Cedarhurst of McHenry. These facilities house a growing senior population, along with their frequent visitors and dedicated staff. All rely on convenient access to pharmacy services, and Walgreens is well positioned to meet this essential need.
EXCELLENT VISIBILITY
The property is situated on a prominent corner lot off W. IL Route 120 & N. Darrell Rd, ensuring excellent exposure and visibility to over 29,000 vehicles per day.
MAJOR HOSPITAL NEARBY
This Walgreens boasts a strategic location just 4 miles west of Northwestern Medicine McHenry Hospital, a renowned 143-bed acute care teaching hospital. The hospital attracts a steady stream of patients, visitors, and staff who rely on convenient access to pharmacy services, creating a built-in customer base for this Walgreens. This proximity, combined with Walgreens’ established reputation for pharmacy care, fosters a strong potential for continued profitability.
MAJOR NEWER DEVELOPMENT
Located just over 1.25 miles west of a major newer development anchored by a 240,000 square foot Woodman’s Market grocery store. This development is a magnet for customers, attracting residents with popular retailers like Starbucks, Chipotle, Jersey Mike’s, and more. As the only drugstore within a 3-mile radius, this Walgreens is positioned to capture increased foot traffic and benefit from the growing customer base generated by this expanding retail hub.
AFFLUENT COMMUNITY
This Walgreens serves the affluent Lakemoor, IL community. The average household income within the 5-mile radius exceeds $105,000.
INVESTMENT GRADE CREDIT TENANT
Rent is guaranteed by Walgreens Corporate, a Fortune 500 pharmaceutical and health service company boasting an S&P credit rating of BBB- and a ± $19 billion market cap.
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