Friday, December 9, 2011
The Boulder Group Completes Sale of Walgreens Ground Leased Property in ChicagoThe Boulder Group, a net leased investment brokerage firm, has complete
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a ground leased Walgreens property located at 5105 N. Harlem Avenue in Chicago, IL for $1,197,183.
The property is located approximately eleven miles northwest of downtown Chicago and six miles from O’Hare International Airport. The ground lease is located at the intersection of heavily trafficked intersection of Harlem Avenue and Foster Avenue. This intersection has average daily traffic counts of over 45,000 vehicles and Harlem Avenue also has direct full interchange with Interstate 94 (190,100 vehicles per day). Harlem Avenue is the primary north-south thoroughfare in the area. The property is ground leased on an absolute net basis to Walgreens for an 18 year lease term.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a locally based developer, in the transaction. The buyer was a Midwest based private investment group.
“Ground leased properties remain in high demand as they offer a secure investment that combines a low price point with zero landlord responsibilities” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Primary activity in the single tenant marketplace comes from investment grade tenanted properties, like Walgreens, located in core locations.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of more than $1.2 billion of net lease real estate transactions through several real estate cycles. The Boulder Group is headquartered in suburban Chicago. The company’s website address is www.bouldergroup.com