Northbrook, IL – November 7, 2016 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 4385 South Archer Avenue in Chicago, IL for $6,465,000.
The Walgreens property is strategically located at the heavily trafficked signalized intersection of Archer Avenue and Kedzie Avenue. This intersection experiences traffic counts in excess of 60,000 vehicles per day. The property is benefitted by its proximity to Interstate 55 which is located approximately one mile north. Interstate 55 experiences traffic counts in excess of 195,000 vehicles per day. The surrounding area is densely concentrated with commercial buildings and residential homes providing for significant barriers to entry.
The Walgreens is a strong performing store with high reported store sales. Walgreens is committed to this location as evidenced by their recent execution of an early 10 year lease extension. There are over 14 years remaining on the Walgreens lease which expires December 31, 2030.