chi-WalgreensChicago (3)

CHICAGO—An investor has justbought a single tenant net leased Walgreens property locatedin Chicago's Bucktown neighborhood for $11,275,000. That big numberhelps illustrate just how desirable the neighborhood has become.New home construction has boomed in the blocks surrounding theproperty, and the new BloomingdaleTrail, also known as “The606,” is just a short walk to the south and brings in thousands ofwalkers, runners, and bikers every day.

“The median selling price for aWalgreens is $6.7 million,” Randy Blankstein, president of the Boulder Group, a Northbrook, IL-based net leased investmentbrokerage firm, tells GlobeSt.com. “In the last two years, it wasthe 17th highest price Walgreens sale out of 472, so it'sin the top 3%.”

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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