12659 S Ridgeland Ave - Drug Store FOR SALE


Palos Heights, IL 60463
$4,162,118 USD
949-942-6585
12659 S Ridgeland Ave, Palos Heights, IL for Sale
$4,162,118 USD
Drug Store - FOR SALE
1/4
null | 9.25% Cap Rate

12659 S Ridgeland Ave
Palos Heights, IL 60463


HIGHLIGHTS

  • Absolute NNN Lease – Zero Landlord Responsibilities
  • Corporate Guaranteed by Walgreens
  • High-Performing Location With Strong Reported Sales (Over $3.5 Million)
  • Signalized Corner With Excellent Visibility and Access
  • 43,000+ Combined Vehicles Per Day at Intersection
  • Dense Suburban Retail Corridor in Affluent Palos Heights

OVERVIEW

This is a prime opportunity to acquire a Walgreens property in Palos Heights, Illinois, secured by a 25-year Absolute NNN (Triple Net) Lease, which absolves the landlord from property management responsibilities such as taxes, insurance, and maintenance. The lease, guaranteed by Walgreens, began in January 2006 and is set to expire in December 2030. Additionally, the lease includes ten 5-year renewal options, providing potential for extended leasing. Located at a signalized intersection in one of the area's busiest retail nodes, this Walgreens benefits from high visibility and excellent access, with combined daily traffic counts exceeding 43,000 vehicles. The property is in a high-performing location with strong in-store sales and exposure to both local residents and daily commuters. Its position in a densely populated suburban retail corridor in Palos Heights, an affluent suburb south of Chicago, ensures continued demand and foot traffic. The surrounding area features a wide range of national retailers and service providers, including a newly developed Pete's Market (scheduled to open early 2026), Jewel-Osco, McDonald's, Starbucks, Dunkin', CVS, Ace Hardware, Chase Bank, and Dollar Tree, creating a thriving commercial environment. In addition, the nearby Palos Health South Campus (Northwestern Medicine) boosts the area's traffic. The local demographic is strong, with 77,091 residents within a 3-mile radius and an average household income of $104,177, providing a stable and affluent consumer base for continued retail success.

FOR SALE DETAILS

PRICE

$4,162,118 USD

PRICE/SF

$284 USD /SF

CAP RATE

9.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.58 AC

LAND SF

68,825 SF

ZONING

-

APN/PARCEL ID

24-29-302-080-0000

ASK ABOUT THIS PROPERTY

Scott ReidParaSell, Inc.More Info
949-942-6585

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Scott ReidParaSell, Inc.More Info
949-942-6585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.