NNN Walgreens For Sale

Jan. 17, 2011 - PRLog -- The Boulder Group, a national single tenant net lease investment brokerage firm, has been named the exclusive advisor for the sale of a Walgreen’s property at 111th and Kedzie in Chicago, Indiana.  

The investment sales team will be led by Boulder Group President Randy Blankstein and partner Jimmy Goodman who are marketing the property on behalf of a Walgreens developer. The property is listed for sale with an asking price of $7,238,000 which provides an initial cap rate of 6.70%. The property is free and clear of debt.

The property is located on northwest corner of 111th Street and Kedzie Avenue, which is benefitted by a traffic signal.  Additionally, this intersection has a visible Walgreen’s brick sign as well as a monument sign displaying the entryway into the Mount Greenwood neighborhood.  Both 111th Street and Kedzie Avenue are primary thoroughfares within Chicago and allow a steady flow of traffic into the Walgreens.  There are approximately 32,300 vehicles passing the site daily.  The subject property is conveniently located in between both a major Interstate and Tollway.  Interstate 57 allows easy access to downtown Chicago, while the Tri-State Tollway (294) provides access to nearby Chicagoland neighborhoods and suburbs.  One of the main attractions in Mount Greenwood is Saint Xavier University, which is home to over 5,000 students and is the oldest university in Illinois. Major retail anchors located in close proximity to the subject asset include Dominick’s, Jewel, and Kmart.

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has participated in the acquisition and disposition of more than $1.2 billion of net lease real estate transactions through several real estate cycles. The firm’s internet address is www.bouldergroup.com