Triple Net Walgreens For Sale | The Boulder Group

NET LEASED INVESTMENT OFFERING

Actual Rendering

Walgreens SWC of 95th Street & Southwest Highway Oak Lawn, IL 60453 (Chicago MSA)

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TABLE OF CONTENTS NET LEASED INVESTMENT OFFERING

TABLE OF CONTENTS

1)

Confidentiality & Disclaimer

2)

Executive Summary

3)

Property Overview

4) Aerial 5)

Site Plan

6)

Maps

7)

Tenant Profile

8)

Demographic Comparison Report

9)

Location Overview

10)

Contact Information

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CONFIDENTITALITY & DISCLAIMER NET LEASED INVESTMENT OFFERING

CONFIDENTIALITY & DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

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EXECUTIVE SUMMARY NET LEASED INVESTMENT OFFERING

EXECUTIVE SUMMARY The Boulder Group is pleased to exclusively market for sale a brand new construction Walgreens property located within a densely populated area of the Chicago MSA. The property replaces a previously successful Walgreens store with strong sales that lacked a drive-thru. The surrounding area is densely concentrated providing high barriers to entry. The Walgreens lease is for twenty years and is estimated to commence in February 2015. Walgreens is an investment grade tenant (S&P: BBB) and is publicly traded on the New York Stock Exchange (WAG) with a market capitalization in excess of $61 billion.

The 61,909 square foot Walgreens property is located along West 95th Street approximately 15 miles southwest from downtown Chicago. The property is benefitted by its location just off of the prime signalized intersection of West 95th Street and Southwest Highway, which experiences traffic counts in excess of 71,000 vehicles per day. Interstate 294 is located less than two miles west of the Walgreens property and experiences traffic counts in excess of 131,000 vehicles per day. The surrounding area is densely populated with over 18,000 people living within a one mile radius earning average household incomes in excess of $75,000 annually. Approximately 400,000 people live within a five mile radius of the property. The Walgreens is located approximately five miles south of Chicago Midway International Airport. Chicago Ridge Mall, an 833,000 square foot shopping mall that is anchored by Carson Pirie Scott, Kohl’s, AMC Theatres, and Sears is located approximately three-quarters of a mile to the west of the Walgreens property. Additional retailers located in the immediate vicinity include Home Depot, Bed Bath & Beyond, Michael’s, Office Depot, Pier 1 Imports, First Midwest Bank, and McDonalds.

The Walgreens lease is for twenty years and is an absolute triple net. Rent is expected to commence in February 2015. The brand new construction Walgreens property is a relocation of a previously successful Walgreens store that did not have a drive thru. Walgreens is an investment grade rated tenant (S&P: BBB) and is publicly traded (NYSE: WAG) with a market capitalization in excess of $61 billion.

Actual Rendering

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INVESTMENT HIGHLIGHTS NET LEASED INVESTMENT OFFERING

INVESTMENT HIGHLIGHTS • Located within the Chicago MSA • Investment grade tenant (S&P: BBB) • Relocation of a previously successful Walgreens store that did not have a drive-thru • Long term lease with 20 years remaining • Brand new construction • No landlord responsibilities • Eleven five-year renewal option periods • Located along West 95th Street, the primary east-west thoroughfare in the area (44,000 VPD) • Located just off of the major signalized intersection of Southwest Highway and West 95th Street (71,000+ VPD) • Densely populated with over 18,000 people living within a one mile radius earning average household incomes in excess of $75,000 annually • Approximately 400,000 people living within a five mile radius • Surrounding area is densely concentrated providing for high barriers to entry • Located in the immediate vicinity of Chicago Ridge Mall, an 830,000+ square foot mall that is anchored by Sears, Carson Pirie Scott, Kohl’s, and AMC Theatres • Additional retailers located in the immediate vicinity include Home Depot, Bed Bath & Beyond, Michael’s, Office Depot, Pier 1 Imports, First Midwest Bank, and McDonalds

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PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING

PROPERTY OVERVIEW

Price:

$10,761,905

Cap Rate:

5.25%

Net Operating Income:

$565,000

Lease Commencement Date:

February 1, 2015 (Estimated)

Lease Expiration Date:

January 31, 2035 (Estimated)

Renewal Options:

Eleven 5-Year

Tenant:

Walgreens

Credit Rating:

BBB (Standard & Poor’s)

Year Built:

2015

Landlord Obligations:

None

Square Feet:

14,550 SF

Land Size:

1.42 acres

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AERIAL NET LEASED INVESTMENT OFFERING

AERIAL 5 MILES MIDWAY AIRPORT

W. 95TH STREET 44,000 VPD

HW

27 E ,4 ST 00 H VP IGH D W

AY

FORMER

UT

2 MILES 131,000 VPD

SO

294

N

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SITE PLAN NET LEASED INVESTMENT OFFERING

SITE PLAN

W 95TH STREET

N

HI

GH

WA Y

West Adjacent Parcel

SW

MCVICKER AVENUE

TENANT SIGN

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MAPS NET LEASED INVESTMENT OFFERING

MAPS

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TENANT PROFILE NET LEASED INVESTMENT OFFERING

TENANT PROFILE Walgreens is engaged in retail drugstore business. The company operates 8,217 locations in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies. Its Take Care Health Systems subsidiary manages more than 715 in-store convenient care clinics and worksite health and wellness centers. The Company’s drugstores are engaged in the retail sale of prescription and non-prescription drugs and general merchandise. General merchandise includes, among other things, household items, personal care, convenience foods, beauty care, photofinishing, candy, and seasonal items. Walgreens offers customers the choice to have prescriptions filled at the drugstore counter, as well as through the mail, by telephone, and through the Internet. In September 2013, Walgreens announced that its acquisition of Kerr Drug and its 76 locations.

Walgreens is a publicly traded company on the New York Stock Exchange, WAG, with a market capitalization in excess of $61 billion. Walgreens is an investment grade rated company with a Standard and Poor’s rating of BBB. Website: Number of Locations: Stock Symbol: Standard & Poor’s Rating: Market Capitalization:

www.walgreens.com 8,217 WAG: NYSE BBB $61 billion

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DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING

DEMOGRAPHIC COMPARISON REPORT

Population Total Population Total Households

1-mi

2-mi

3-mi

18,037 6,306

81,052 29,716

162,203 59,226

$59,421 $75,812

$51,695 $66,586

$52,499 $66,637

Income Median Household Income Average Household Income

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LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING

LOCATION OVERVIEW Oak Lawn is a village in Cook County, Illinois and is a southwestern suburb of Chicago. Oak Lawn stands as a mature community of more than 57,000 residents. Affordable homes in friendly neighborhoods and quality community services are complemented by a unique assortment of restaurants, business establishments and retailers. Thanks to its location just outside of Chicago and the close proximity to Midway Airport, major expressways and rail lines, Oak Lawn continues to be an attractive community for new businesses and prospective employees. www.oaklawn-il.gov Chicago is the most populous city in the Midwestern United States and the third most populous city in the United States with 2,700,000 residents. Chicago is the county seat of Cook County, the second largest county in the United States. The Chicago MSA is the third most populated metropolitan area in the United States with 9,580,567 residents. The MSA covers over 1,300 square miles and six counties.

The Chicago metropolitan area is home to the corporate headquarters of 57 Fortune 1000 companies, including Boeing, McDonald’s, Motorola, Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecommunications and infrastructure and O’Hare International Airport is the second busiest airport in the world in terms of volume.

The metro is a major financial center in North America, and is home to the largest futures exchange in the United States, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks the competitiveness of financial centers based on people, business environment, market access, infrastructure and general competitiveness. www.cityofchicago.org

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CONTACT INFORMATION NET LEASED INVESTMENT OFFERING

CONTACT INFORMATION

Actual Rendering

666 Dundee Road, Suite 1801 Northbrook, IL 60062 Randy Blankstein President 847.562.0003 randy@bouldergroup.com

Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com

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