9551 171st St - Drug Store FOR SALE


Tinley Park, IL 60487
$5,258,333 USD
619-297-0055
9551 171st St, Tinley Park, IL for Sale
$5,258,333 USD
Drug Store - FOR SALE
1/3
null | 6% Cap Rate

9551 171st St
Tinley Park, IL 60487


HIGHLIGHTS

  • CVS guarantees the rental income which has 5% increases in the options and does not include a rent holiday.
  • In 2020, after operating at the location for 14 years, CVS agreed to extend the lease to a rare 20 year firm term before the options.
  • New developments include over 110k sf of medical space as well as 'Orland Ridge', a brand new 300+ home community located directly across the street.
  • Frontage on La Grange Road (38,700 VPD) and 171st Street (14,300 VPD) and with direct access to Interstate 80 (102,900 VPD).
  • ±172,000 residents in a 5-Mile radius with an Average Household Income of ±$130,000 within 1-Mile.

OVERVIEW

We are pleased to market for sale the CVS property located at 9551 West 171st Street in Tinley Park, IL 60487 ("The Property") located within the Chicago MSA. CVS has been successfully operating at this location for over 18 years and in 2020, agreed to sign a rare 20-year lease extension showing the performance and commitment to the location. The property is on an absolute net lease with no landlord obligations whatsoever. In March 2024, Silver Cross and Premier Suburban Medical Group (PSMG) opened a new 42,000 square-foot, two-story medical building across the street, enhancing healthcare access in the area. This state-of-the-art facility houses primary and multi-specialty care doctors, advanced practice providers, a comprehensive lab, imaging and pharmacy services, a 20-bay cancer care and infusion center, an endoscopy suite with two procedure rooms, cardiology services, 38 exam rooms, after-hours care, and additional amenities. Across the street from the Silver Cross and PSMG facility, Orland Ridge Towns and Villas is a mixed-use development featuring approximately 300 homes and a community building equipped with exercise facilities, swimming pools, dog parks, markets, and restaurants. Just 1.5 miles south, Loyola Medicine Tinley Park completed construction on a $69 million, 70,000-square-foot, two-story ambulatory care center in early 2023, offering an imaging center along with primary and specialty care services, including orthopedic surgery, oncology, cardiology, pulmonary medicine, and urology. This Property offers investors the opportunity to purchase a high-performing, corporate guaranteed, CVS in a densely populated and affluent trade area. More than 172,000 people live within a 5-mile radius of the Property, with an average household income of over $118,000. Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, IL DRE Lic. 471020548.

FOR SALE DETAILS

PRICE

$5,258,333 USD

PRICE/SF

$369 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Recent 20 Yr Ext | No Rent Holiday

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.68 AC

LAND SF

73,181 SF

ZONING

B-3

APN/PARCEL ID

27-27-320-005-0000

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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