Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a long-term absolute net-leased Walgreens located at 680 E Boughton Rd, Bolingbrook, IL. The asset is well sited on the hard corner of Boughton and Feather Sound Drive, a signalized intersection with traffic counts exceeding 45,000 vehicles per day.
There are currently over 8 years remaining on an original 25-year, absolute net lease with zero landlord responsibilities. This Walgreens is offered at an above market yield and is highly financeable at today’s interest rates.
The property has ingress and egress onto both Boughton and Feather Sound. Boughton Road is the primary east/west artery through Bolingbrook and features major retailers like Costco, Meijer, IKEA, and more. The underlying real estate is irreplaceable and draws heavy traffic flow from The Promenade Bolingbrook Mall. Built in 2007, the 750,000 square-foot open-air entertainment destination has over 50 shops and 10 restaurants. It features tenants such as Macy’s, Binny’s, Barnes and Noble, Bass Pro Shops, and Star Cinema Grill.
The demographics surrounding this property are especially noteworthy, with a population of over 75,000 people living within a 3-mile radius, and average household incomes of roughly $114,000.
Competitively priced at a 7.75% CAP rate, this is an opportunity to purchase a high-yield single tenant asset located within a dense and desirable retail node.