October 8, 2020
The Boulder Group recently completed the sale of a single-tenant net-leased Walgreens property in Orland Park, IL to a West Coast-based investor. The 15,120-square-foot drugstore at 14680 S. La Grange Rd. in Orland Park traded for $6,854,838.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a Midwest-based real estate developer.
The brokerage said the property is well-positioned in a dominant retail corridor immediately across from Simon Properties’ Orland Square Mall, which is anchored by JCPenney, Macy’s, Von Maur, Apple and an upcoming AMC movie theatre.
Additionally, the Walgreens property is located in close proximity to U-Chicago Medicine Orland Park, which drives additional traffic.
The Walgreens lease expires in September 2032 and features eight five-year renewal option periods.
For comments, questions or concerns, please contact Paul Bubny
Tags: Broker, Net Lease, Retail, Sale