EVERGREEN PARK, ILL. — The Boulder Group has brokered the $11 million sale of a single-tenant, triple-net leased retail property in Evergreen Park, a suburb 15 miles south of Chicago. Walgreens will be the sole occupant of the 14,820-square-foot retail building located at the southeast corner of W. 95th St. and S. Pulaski Road. Walgreens is relocating to this site from its existing building at 3545 W. 95th St. Walgreens opted to move two blocks in order to maximize vehicular traffic and store visibility. The new Walgreens property is set to open in July. The property is fully leased to Walgreens and will have 20 years of primary lease term remaining upon commencement. The lease features rental escalations in the primary term and renewal option periods. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based developer, in the transaction. The buyer was a Massachusetts-based limited partnership in a 1031 tax-deferred exchange.
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