chi-WalgreensChicago (3) 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 “In the last two years, it was the 17th highest price Walgreens sale out of 472, so it’s in 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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