Walgreens – Forest Park, IL

Walgreens
7200 Roosevelt Road, Forest Park, IL, USA

Sands Investment Group is pleased to exclusively offer for sale the 12,209 SF Walgreens located at 7200 Roosevelt Road in Forest Park, IL. The property features a corporate-guaranteed, Absolute Triple Net (NNN) Lease backed by Walgreen, Co., a nationally recognized pharmacy operator with thousands of locations nationwide. With the tenant responsible for taxes, insurance, maintenance, and capital expenses, the offering provides investors with a secure, passive income stream and minimal landlord responsibilities, making it an attractive long-term net lease investment.

  • Corporate-Guaranteed, Absolute Triple Net (NNN) Lease: The lease is backed by Walgreen, Co., a privately held Illinois corporation with thousands of locations nationwide. Walgreen, Co. remains liable on the lease regardless of any assignment, providing investors with corporate-backed lease security and a passive investment structure with no landlord responsibilities.
  • Long-Term Lease with Significant Term Remaining: The property is secured by a 15-year Absolute Triple Net (NNN) Lease executed in February 2023, with 11+ years of primary term remaining, followed by 12, 5-year renewal options, providing a maximum potential lease term of 75 years and exceptional long-term income certainty.
  • Truly Passive Investment with Zero Landlord Responsibilities: Structured as an Absolute Triple Net (NNN) Lease, Walgreen, Co. is responsible for all property taxes, insurance, utilities, maintenance, repairs, and parking, leaving the landlord with virtually no ongoing obligations.
  • Contractual Rent Growth: The lease includes scheduled 5% rent increases every 5 years throughout the primary term and all renewal periods, providing a reliable hedge against inflation and consistent NOI growth.
  • Signalized Hard Corner: The property sits at the signalized corner of Roosevelt Road and Harlem Avenue in Forest Park, Illinois, a densely developed, infill market just 10 miles west of downtown Chicago with direct access to the CTA Blue Line and I-290, making repositioning or retenanting straightforward if ever needed.
  • Dominant Retail Location in a Supply-Constrained Market: Forest Park is a fully built-out infill suburb with no room for competing pharmacy development. Walgreens anchors the area’s healthcare and convenience needs, driving strong long-term sales and consistent tenant retention through every renewal.

In Cooperation With Sands Investment Group Illinois, LLC – Lic. #481013714 BoR: Andrew Ackerman – Lic. IL #471021429

Walgreens
7200 Roosevelt Road, Forest Park, IL, USA

Walgreens (Walgreen Co.)

Founded in 1901, Walgreens is one of the nation’s leading community retail pharmacy brands, providing pharmacy, healthcare, wellness, and everyday retail services. The company operates approximately 8,000 locations across all 50 states and Puerto Rico, serving nearly 9 million customers and patients daily. Walgreen Co. employs approximately 211,000 team members, including nearly 85,000 healthcare service providers, reinforcing its extensive national presence and established brand recognition.

Price

$5,446,200

Cap Rate

6.00%

PREMISES

12,209 SF

YEAR BUILT

1996

RENEWAL OPTIONS

12 x 5 Year Options

Lease Expiration

02/28/2038

Lease Type

Absolute NNN

RENTAL INCREASES

5% Every 5 Years

BROKERS

Jonathan Silver
Los Angeles
Blake Marcus
Los Angeles
Andrew S. Ackerman
Atlanta

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