12659 S Ridgeland Ave - Drug Store FOR SALE


Palos Heights, IL 60463
$4,837,450 USD
949-942-6585
12659 S Ridgeland Ave, Palos Heights, IL for Sale
$4,837,450 USD
Drug Store - FOR SALE
1/1
null | 8% Cap Rate

12659 S Ridgeland Ave
Palos Heights, IL 60463


HIGHLIGHTS

  • Absolute NNN Lease – Zero Landlord Responsibilities
  • Corporately Guaranteed by Walgreens (NASDAQ: WBA)
  • High-Performing Location With Strong Reported Sales (Over $3.5 Million)
  • Signalized Corner With Excellent Visibility and Access
  • Over 29,000 Combined Vehicles Per Day at Intersection

OVERVIEW

This is the opportunity to purchase a Walgreens property located in Palos Heights, Illinois. The asset is secured by a 25-year Absolute NNN Lease with zero landlord responsibilities, corporately guaranteed by Walgreens. The lease commenced in January 2006 and is set to expire in December 2030, with ten 5-year renewal options. This high-performing Walgreens reports strong in-store sales and is strategically positioned at a signalized intersection in one of the busiest retail nodes in the area. The site offers excellent visibility and access, with combined traffic counts exceeding 29,000 vehicles per day, ensuring steady exposure to both local residents and daily commuters. The property is located within a dense suburban retail corridor in a wellestablished, affluent part of Palos Heights, a desirable suburb of Chicago. The surrounding trade area features a strong lineup of national retailers and service providers, including Jewel-Osco, McDonald’s, Starbucks, Dunkin’, CVS, Ace Hardware, Chase Bank, and Dollar Tree, as well as nearby medical and office buildings such as Palos Health South Campus (Northwestern Medicine). Within a 3-mile radius, the area includes approximately 77,091 residents with an average household income of $104,177.

FOR SALE DETAILS

PRICE

$4,837,450 USD

PRICE/SF

$330 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Absolute NNN Leased Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.58 AC

LAND SF

68,825 SF

ZONING

-

APN/PARCEL ID

24-29-302-080-0000

ASK ABOUT THIS PROPERTY

Scott ReidParaSell, Inc.More Info
949-942-6585

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Scott ReidParaSell, Inc.More Info
949-942-6585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.