Description

JLL is pleased to exclusively offer for sale the fee-simple interest in the Walgreens (the “Property“ or the “Asset”) located Morton Grove, IL (Chicago MSA). The Asset is comprised of 14,440 SF and is 100% occupied by Walgreens (the “Tenant”) who operates on a net lease structure with 1.8 years of remaining term. Walgreens’ rent is well-aligned with market rents and the Property's design offers flexibility for alternative uses should Walgreens choose not to renew when their lease term concludes. Potential occupiers include health care providers, gas stations / c-stores, QSR’s and more.

The Property is situated within a dense corridor along Dempster St. with clear exposure to (33,000 VPD). Downtown Chicago can be easily reached in 15 minutes via the adjacent I-94 (155,000 VPD) and multiple commuter rail systems within two miles of the Asset. O’Hare International Airport, the busiest airport in the nation, is six miles from the Property and serves as an anchor for the local economy through hotels, office properties, and one of the top industrial corridors in the nation. Village Crossing, a lifestyle center 1-mile from the Asset off Dempster, attracts 7 million shoppers annually and is the busiest lifestyle center in Illinois.

The surrounding area boasts a highly-affluent community with average annual household incomes exceeding $150,000 within a 3-mile radius.

This offering presents an opportunity for investors to acquire a premier real estate asset offering substantial upside potential, with a favorable downside scenario in which Walgreens renews its lease and delivers annual returns exceeding 10% annually.

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Attributes

Building area net

1,342 sm

Occupancy

100%

Land area gross

0 sm

Media

Investment highlights

HIGH-YIELD OFFERING WITH STRONG FUTURE UPSIDE

The Asset’s structural fungibility will allow future ownership to easily re-tenant the Asset while capitalizing on near-term cash flows with 10%+ yield

PRIME LOCATION WITH EXCELLENT VISIBILITY

Irreplaceable parcel with ample parking, clear exposure to Dempster St. (33,000 VPD) and immediate access to interstate-94 (155,000 VPD) with connectivity to downtown Chicago
Positioned in between two major highway systems and two commuter rail systems all within 5-minutes of the Property
Highly fungible box with strong redevelopment potential for a range of businesses including QSR’s, car washes, muloin including QSR’s, car washes

THRIVING MARKET WITH STRONG DEMOGRAPHIC PROFILE

The surrounding 3-mile radius features a population of more than 18,000 residents and average household incomes that exceed $150,000
The area surrounding this location offers a varied commercial landscape with hotels, industrial properties, retail developments, multifamily residential buildings, office spaces, and entertainment venues, all supported by the economic presence of O'Hare Airport.

NATIONALLY RECOGNIZED TENANCY

Walgreens is a leading retail pharmacy provider with more than 9,000 locations throughout the United States
Walgreens is experiencing a brand revival since being acquired by Sycamore Partners in 2025, improving operational efficiency and revamped inventory