Enter the "Deal room" for exclusive documents related to this property.
|Last Updated Date||21 Jul 2020|
JLL is pleased to offer for sale a freestanding single-tenant CVS Pharmacy located in Schaumburg, Illinois. The property is strategically positioned at the signalized intersection of West Irving Park Road and West Wise Road, providing excellent visibility and accessibility to the 65,700 vehicles passing on a daily basis. It includes a full service CVS Pharmacy with drive-thru window, allowing customers to obtain products and medications without leaving their car. The property is located just blocks away from Illinois Route 390 with 72,400 VPD and consists of four points of entry, offering maximum accessibility to customers.
Situated 27 miles North-West of downtown Chicago and 11 miles West of O’Hare International Airport, Schaumburg was recently voted the “Best Place to Live in Illinois” according to Money Magazine. Surrounding retail trade area tenants include Menards, Bank of America, Harbor Freight Tools and Tony’s Fresh Market. This offering presents the unique opportunity to acquire an essential service oriented Property, backed by an investment grade corporate guaranty within the Chicago MSA.
•Largest pharmacy health care provider in the U.S. by total prescription revenue
•Investment grade credit rating of ‘BBB’ from S&P Global and ‘Baa2’ from Moody’s Investor Services
•The company has been deemed an essential service and will continue to operate throughout the longevity of the COVID-19 pandemic
•As non-essential retailers are forced to close, CVS has seen a massive increase in demand for prescriptions and products
•More than 278,000 residents live within a five-mile radius, with average annual household income of $103,774
•NNN ground lease with no landlord responsibilities
•Over 10.5 years of primary lease term remaining
•Six, 5-year options with 10% increases every 5 year