CHICAGO—An Illinois investor has paid $6.24 million for a freestanding, 15,000-sq.-ft. Walgreens Pharmacy, located at 11981 West 143rd Street in Orland Park, Ill.
Quantum Real Estate Advisors Inc. completed the off-market transaction with Chad Firsel of representing both the buyer and the seller, a Chicago-based partnership, in the deal.
At the time of the sale, there were approximately 22 years remaining on an initial 25-year term.
“This property fits perfectly with the purchaser’s objectives, a group that was in a 1031 Starker Exchange,” said Firsel. “This shows that there is plenty of demand for long-term, net-leases to credit tenants, and the sale of this Walgreens is just another example.”