Net Leased Walgreens For Sale | The Boulder Group

NET LEASE INVESTMENT OFFERING

WALGREENS 732 West Old Ridge Road, Hobart, IN 46342 (Chicago MSA)

TABLE TABLE OF CONTENTS

TABLE OF CONTENTS I. Executive Summary

II. Location Overview

III. Market & Tenant Overview

Executive Summary

Photographs

Demographics

Investment Highlights

Site Plan

Market Overview

Property Overview

Aerial

Tenant Overview

Map

NET LEASE INVESTMENT OFFERING

DISCLAIMER TABLE OFSTATEMENT CONTENTS

DISCLAIMER STATEMENT:

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.

NET LEASE INVESTMENT OFFERING

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY:

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located within the Chicago MSA. This Walgreens location has exceptional store sales and is positioned at the hard corner of a signalized intersection. Walgreens has successfully operated at this location since 2001 and recently executed an early ten year lease extension demonstrating their commitment to this location. There are 17 years remaining on the Walgreens lease that expires on December 31, 2031. Walgreens is an investment grade rated company (S&P: BBB) and is publicly traded (NYSE: WAG) with a market capitalization in excess of $61 billion.

The 15,120 square foot Walgreens building is strategically located at the signalized intersection of West Old Ridge Road and North Wisconsin Street. West Old Ridge Road is a primary thoroughfare in the market. The property features multiple points of ingress and egress and is easily accessible in all directions. The property is located approximately two and one-half miles from access to Interstate 65. The surrounding area is densely concentrated with single family homes. There are over 42,000 people living within a three mile radius of the property. The Walgreens is benefitted from its location in the immediate proximity to a Strack & Van Til grocery store.

There are over 17 years remaining on the recently extended Walgreens lease that expires on December 31, 2031.

This Walgreens has excellent store sales and has successfully operated at this location since 2001. Walgreens is an investment grade rated company with a Standard and Poor’s rating of BBB.

NET LEASE INVESTMENT OFFERING

INVESTMENT HIGHLIGHTS

INVESTMENT HIGHLIGHTS:

• Located within the Chicago MSA • Investment grade tenant (S&P: BBB) • Long term lease with over 17 years remaining • Proven location as evidenced by the early lease extension • Strong store sales • Successful operating history at this location since 2001 • Positioned at the hard corner of a signalized intersection • Located in the immediate vicinity to a Strack & Van Til grocery store • West Old Ridge Road is a primary thoroughfare in the market

NET LEASE INVESTMENT OFFERING

PROPERTY OVERVIEW

PROPERTY OVERVIEW:

NET LEASE INVESTMENT OFFERING

Price:

$6,358,174

Cap Rate:

5.75%

Net Operating Income:

$365,595

Lease Commencement Date:

December 28, 2001

Lease Expiration Date:

December 31, 2031

Renewal Options:

Five 5-Year

Tenant:

Walgreens

Credit Rating:

BBB (Standard & Poor’s)

Year Built:

2001

Landlord Obligations:

NN (Roof, Structure & Parking Lot)

Building Size:

15,120 Square Feet

Land Size:

1.57 Acres

PHOTOGRAPHS

NET LEASE INVESTMENT OFFERING

WASHINGTON STREET

WISCONSIN STREET

SITE PLAN

RIDGE ROAD

NET LEASE INVESTMENT OFFERING

N WISCONSIN STREET

AERIAL

W. OLD RID GE ROAD

NET LEASE INVESTMENT OFFERING

MAP

Lake Michigan

NET LEASE INVESTMENT OFFERING

DEMOGRAPHICS

DEMOGRAPHIC REPORT:

NET LEASE INVESTMENT OFFERING

Population

1-mi

3-mi

5-mi

Total Population

8,934

42,080

112,363

Total Households

3,661

16,235

42,953

Income

1-mi

3-mi

5-mi

Median Household Income

$44,217

$44,334

$38,439

Average Household Income

$53,321

$55,110

$49,967

MARKET OVERVIEW

MARKET OVERVIEW:

Hobart is a city in Lake County, Indiana. The city is located approximately thirty-one miles southeast from downtown Chicago just south of Lake Michigan. As of the 2010 US Census, Hobart had a population of 29,059 people. Hobart is benefitted by its accessibility to several major Interstates including Interstate 80 and Interstate 65. www.cityofhobart.org

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 traffic movement.

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

NET LEASE INVESTMENT OFFERING

TENANT OVERVIEW

TENANT OVERVIEW:

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:

NET LEASE INVESTMENT OFFERING

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

Randy Blankstein President 847.562.0003 randy@bouldergroup.com

Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com

666 Dundee Road, Suite 1801 Northbrook, IL 60062 www.bouldergroup.com