Marcus & Millichap is pleased to present the opportunity to acquire a Walgreens pharmacy located at 399 Lake Marian Road in Carpentersville, Illinois, within the greater Chicago MSA. Walgreens has occupied the ±13,776-square-foot building for over 25 years and operates under a double-net (NN) lease with approximately 5.5 years remaining. The lease includes eight (8) five-year renewal options, with landlord responsibilities limited to roof and structure. A new roof was installed in 2023 and is under warranty through 2043.
Located at a signalized hard corner with over 33,500 vehicles per day, the property sits as an outparcel to a Walmart Supercenter and benefits from strong national co-tenancy including Starbucks, Wingstop, Subway, and AutoZone. Annual reported store sales are approximately $2.1 million, with current rent well below market at $18.18/SF—supporting a healthy occupancy cost ratio of approximately 12%.
This asset offers a compelling loan assumption opportunity with a ~$1,842,750 loan at 6.50% fixed interest, maturing in March 2031. Monthly debt service is $12,442.38, generating approximately $101,197 in annual cash flow after debt service.
In March 2025, Walgreens Boots Alliance agreed to be acquired by Sycamore Partners for $10 billion. Although credit agencies downgraded Walgreens to speculative-grade (BB- by S&P and Ba3 by Moody’s), the transition to private ownership is expected to allow more operational flexibility and targeted investment, which may support long-term performance. This offering presents a rare chance to secure a passive, cash-flowing NN asset in a dense, affluent Chicago suburb with proven tenant performance and favorable debt in place.
Illinois Broker of Record: Steven Weinstock
One Mid America Plaza, Ste. 200Oakbrook Terrace, IL 60181
Steven.Weinstock@MarcusMillichap.com
Lic #: 471.011175