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.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private real estate firm. The purchaser was a Midwest investment company.
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.
“Established properties with proven operating histories continue to garner significant investor interest.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “While single tenant properties are selling in all types of locations; core markets, like Chicago, are at the forefront of investor demand.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant 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 arranged the acquisition and disposition of over $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
The Boulder Group
randy (at) bouldergroup (dot) com