Walgreens Closing | Chicago, IL | June 2016
Pharma Property Group Closes 24 Hour Fourteen Year Leased Walgreens in Chicago, Illinois
Pharma Property Group has announced the closing of the 24 hour Walgreens for sale located at 5435 South Kedzie Avenue in Chicago, Illinois. Jason Pongsrikul, Managing Principal of PPG, had the drugstore for sale exclusively listed and also located the New York based buyer who closed on the asset all cash.
“This drugstore was an extremely high performing 24-hour store and we located a New York based investor who understood the fundamentals of drugstore real estate. The tenant showed commitment to this location by putting roughly $1,000,000 into store renovations and extended the lease early during 2015.
This was a great purchase for the investor as this corner is primary market infill drugstore for sale product that had a price point under $4,000,000. The population density of approximately 787,025 people in a five-mile radius and Walgreens commitment to the location is evidence that this location will be profitable for years to come,” explained Mr. Pongsrikul.
Pharma Property Group is a specialized national commercial real estate brokerage firm providing investment services for drugstore landlords who own Walgreens, CVS and Rite Aid properties throughout the nation.
Pharma Property Group
5328 Banks Street Suite B
San Diego, CA 92110
Office: (619) 297-0055