Bucktown Walgreens Sells for Big Number

The new 606 Trail just to the south of this Bucktown Walgreens helped attract investors.

CHICAGO—An investor has just bought a single tenant net leased Walgreens property located in Chicago’s Bucktown neighborhood for $11,275,000. That big number helps illustrate just how desirable the neighborhood has become. New home construction has boomed in the blocks surrounding the property, and the new Bloomingdale Trail, also known as “The 606,” is just a short walk to the south and brings in thousands of walkers, runners, and bikers every day.

“The median selling price for a Walgreens is $6.7 million,” Randy Blankstein, president of the Boulder Group, a Northbrook, IL-based net leased investment brokerage firm, tells GlobeSt.com. “In the last two years, it was the 17^th highest price Walgreens sale out of 472, so it’s in the top 3%.”