3615 N Central Ave - Drug Store FOR SALE


Chicago, IL 60634- Portage Park
$6,285,357 USD
619-297-0055
3615 N Central Ave, Chicago, IL for Sale
$6,285,357 USD
Drug Store - FOR SALE
1/4
null | 7% Cap Rate

3615 N Central Ave
Chicago, IL 60634
Portage Park


HIGHLIGHTS

  • This CVS lease has no rent holiday featured and has over 9 years of guaranteed rent before the next option.
  • Starting in 2035 there is a 10% increase and then 10% increases at each of the 8 (5 year) options.
  • Located in a high-income trade area with the average household income exceeding $102,000 within a 1 and 3-mile radius.
  • This store ranks in the top 30% of foot traffic per Placer. Ai, for all CVS stores in the state of Illinois.
  • Located in a densely populated area of the Chicago MSA which has a population of over 9.4 million people and is the third largest MSA in the US.
  • Situated across the intersection from Community First Medical Center, which has 299 licensed beds.

OVERVIEW

We are pleased to present for sale the CVS Pharmacy property located at 3615 N Central Avenue, Chicago, IL (the “Property”). CVS has operated at this location since 2009 and is under a double net (NN) lease with limited landlord responsibilities. The current firm lease term runs through November 30, 2034, with eight (5-year) renewal option. The lease includes built-in rental escalations beginning in the first extension period, with 10% increases at each renewal, offering attractive long-term income growth for investors. Strategically positioned in a dense infill location within the Chicago MSA, the Property benefits from outstanding demographics. There are over 355,000 residents within a 3-mile radius and more than 2.58 million within a 10-mile radius. The average household income within three miles exceeds $93,000, and the site sees over 28,000 vehicles per day, reinforcing the asset’s visibility and accessibility along a high-traffic corridor. Located directly across the street from Community First Medical Center, a 299-bed full-service hospital, the Property draws from consistent healthcare-related foot traffic. Just blocks away is The Brickyard, a dominant open-air retail center anchored by Home Depot, Target, Lowe’s, and Marshalls, with a strong mix of national retailers including Aldi, Dollar Tree, Ross, Harbor Freight, Chipotle, and Burger King. The combination of medical and daily-needs retail enhances the Property’s long-term stability and positions CVS as a necessity-based tenant serving a diverse, established consumer base. Listed in conjunction with Brian Brockman, Bang Realty - Illinois Inc, 513-898-1551, wg@bangrealty.com, IL DRE Lic. 471020548.

FOR SALE DETAILS

PRICE

$6,285,357 USD

PRICE/SF

$520 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

±10 YR CVS | No Rent Holiday | 10% Increases

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

29

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,333 SF

ZONING

B3-1

APN/PARCEL ID

13-21-124-041-0000

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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