Illinois

CHICAGO — The Boulder Group has brokered the $11.2 million sale of a retail building net leased to Walgreens. A private investor in a 1031 exchange purchased the asset, located at 2001 Milwaukee Ave. in Chicago, from a Midwest-based private investor. Walgreens’ absolute triple net lease expires Dec. 31, 2031. The Western Chicago Transit Authority Blue Line “L” Station is located one block south of the Walgreens. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction.

CHICAGO — Baum Realty Group LLC has arranged the sale of a retail property in Chicago’s Edgewater neighborhood for $14.1 million. A local developer sold the ground-floor retail space at The Granville to a private east-coast investor. ALDI anchors the fully leased property, which includes four other tenants. The 31,920-square-foot asset also features 106 covered parking spaces. Danny Spitz and Patrick Forkin of Baum Realty represented the seller in the transaction.

GLENVIEW, ILL. — The Boulder Group has arranged the sale of a building net leased to Bank of America for $6.9 million. The property is located at 1400 Waukegan Road in Glenview, approximately 20 miles northwest of Chicago. Other retailers in the immediate area include Walgreens, Trader Joe’s, Jewel-Osco, Ace Hardware, Staples and Starbucks. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate development company, in the transaction. The buyer was a local 1031 exchange investor. The Bank of America ground lease has over 13 years remaining and expires in December 2029. The ground lease features 10 percent rental escalations every five years throughout the primary term and renewal option periods.