WALGREENS IN CHICAGO’S NORTHSIDE SELLS FOR $16.5M

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CHICAGO — Marcus & Millichap has arranged the $16.5 million sale of a 16,047-square-foot Walgreens drugstore in Chicago’s Andersonville neighborhood. The sales price equates to $1,033 per square foot. The drugstore is located across the street from grocer Jewel-Osco at 5440 N. Clark St. The property underwent an extensive rebuild and retrofit to maintain its historic look. Walgreens signed an absolute-net, 75-year lease on the property in 2011. Sean Sharko and Austin Weisenbeck of Marcus & Millichap’s Chicago Oak Brook office represented the seller, an overseas partnership. Jamie Medress and Mark Ruble of the firm’s Phoenix office represented the undisclosed buyer.

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