cvs pharmacy - capitalpacific.com · cvs - lincoln ave, chicago | 5. zoomed-out aerial chicago...
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CVS PharmacyLincoln Avenue Chicago, IL
outstanding metro Chicago real estateinfill location, excellent demographics4051 N. Lincoln Ave., Chicago, IL (map)
Rentable SF . . . . . . . . . . . . . 23,100 SF
PRice PeR SF . . . . . . . . . . . . . $338.61
land aRea . . . . . . . . . . . . . 0.97 Acres
ReMOdeled . . . . . . . . . . . . . 2006
annual Rent/Ft . . . . . . . . $18.82
leaSe exPiRatiOn . . . . . . . 1/31/2032
PRICE: $7,821,974CAP: 5.56%
cvs PROperty Summary4051 N. Lincoln Ave., Chicago, IL (map)
Listing TeamContact Info
zEB [email protected] | (415) 274-2702CA BRE# 01002010
Chris [email protected] | (415) 274-2701CA BRE# 00869657
Chris [email protected] | (415) 274-2703 CA BRE# 01339983
illinois broker/local market representative: paul [email protected] | (630) 954-7354
CvS - LinCoLn AvE, ChiCAgo | 2
THIS FREESTANDING CVS IS LOCATED IN THE AFFLUENT NORTH CHICAGO NEIGHBORHOOD OF NORTH CENTER
over 559,000 people within a 3 mile radius, average household incomes exceed $81,000
core characteristics
inVeStMent HiGHliGHtS This absolute nnn lease is corporately guaranteed and has 16 years remaining on the primary term. There are ten, five year renewal options, which if exercised, have the potential to adjust to Fair Market value, providing the possibility of upside and inflation protection in the future. See rent roll and contact agent for more details.
uRban inFill Retail lOcatiOn The north Center neighborhood boasts some of the best public schools in Chicago, and was voted one of Chicago’s best neighborhoods by Chicago Magazine in 2014. There are nearly 55,000 people and average household incomes in excess of $100,000 within a 1-mile radius. The property is a 5-minute drive from Wrigley Field, home of the Chicago Cubs and one of the most iconic and historic stadiums in the country.
HiGHlY ViSible and eaSilY acceSSibleThe subject property features a large monument sign at the main entrance, and its brick façade melds attractively with the myriad retail, multi-family and mixed-use projects along Lincoln Avenue. The dedicated parking lot features 41 standard and 2 handicap parking stalls, an extremely rare and valuable feature for an urban in-fill site such as this.
Retail SYneRGY and PHaRMacY deMandThe northCenter Senior Campus is just a few blocks to the west along irving Park Road. This former hospital turned senior-living facility has 250 units and was one of just four national winners of the 2009 AARP Livable Communities Award. To the west is Thorek Memorial hospital, a 218-bed not-for-profit care facility. The immediate trade area is a dense retail market featuring other national tenants include Trader Joes, Jewel-osco, Starbucks, US Bank and AT&T.
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Lincoln Ave - Chicagophotos
excellent signage and attractive brick facade
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excellent ViSibilitY, eaSY acceSS and attRactiVe and RaRe PaRkinG FOR uRban inFill: 41 StandaRd and 2 HandicaP SPaceS
zoomed-in aerial
n lincoln avenue
n dam
en avenue
W irving Park Road19
cHicagO citY center41
31,200 dailY
11,800 da
ilY
10,600 da
ilY
CvS - LinCoLn AvE, ChiCAgo | 5
cHicaGO MetRO lOcatiOn, juSt 5 MinuteS FROM WRiGleY Fieldzoomed-out aerial
n c
lare
ndon
ave
nue
n broadway
W addison Street
W Montrose avenue
n lincoln avenue
n d
amen
ave
nue
n a
shla
nd a
venu
e
W irving Park Road19
41
sYdneY r. MarOvitZ gOlf cOUrse
Horace Greely elementary
Ravenswood elementarynorth Park
elementary
audubon elementary
blaine elementary
Stewart elementary
immaculata High School
lakeview High School
cHicagO citY center41
11,800 da
ilY
31,200 dailY
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PRICE $7,821,974
Capitalization Rate: 5.56%
Rent holiday Credit* ($571,974)
EFFECTIVE PRICE $7,250,000
Price Per Square Foot: $338.61
Capitalization Rate: 6.00%
Total Rentable Area (SF): 23,100
Lot Size (AC): 0.97
STABILIZED INCOME Per Square Foot
Scheduled Rent $18.82 $434,647
Effective gross income $18.82 $434,647
LESS Per Square Foot
Taxes nnn $0.00
insurance nnn $0.00
Total operating Expenses nnn $0.00
EQUALS NET OPERATING INCOME $434,647
*Credit based on the PV of the annual rents forgone during the rent holiday using a discount rate of 6.0%
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
income & expense
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This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
rent roll
tenant inFO leaSe teRMS Rent SuMMaRY
Tenant Name Sq. Ft. Term Current Rent
Monthly Rent
Yearly Rent
Monthly Rent/FT
Yearly Rent/FT
CvS 23,100 11/09/06 12/31/28 $434,647 $36,221 $434,647 $1.57 $18.82
Rent holiday 01/01/29 01/31/32 Pv Credit - See Page 7
option 1 02/01/32 01/31/37 Fair Market value / $391,182*
option 2 02/01/37 01/31/42 Fair Market value / $391,182*
option 3 02/01/42 01/31/47 Fair Market value / $391,182*
option 4 02/01/47 01/31/52 Fair Market value / $391,182*
option 5 02/01/52 01/31/57 Fair Market value / $391,182*
option 6 02/01/57 01/31/62 Fair Market value / $391,182* $391,182 .30
option 7 02/01/62 01/31/67 Fair Market value / $391,182*
option 8 02/01/67 01/31/72 Fair Market value / $391,182*
option 9 02/01/72 01/31/77 Fair Market value / $391,182*
option 10 02/01/77 01/31/82 Fair Market value / $391,182*
Totals: 23,100 $434,647 $36,221 $434,647 $1.57 $18.82
*Rent during the option periods is likely to adjust to Fair Market Value, however it is not guaranteed . Please contact listing agents for more details .
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Site Plan keY
PARCEL oUTLinE:
LAnd AREA: 0.97 AC
BUiLding AREA: 23,100 SF
ingRESS/EgRESS:
site plan
n damen avenue
n lincoln avenue
W b
elle
Pla
ine
aven
ue
MOnuMent SiGn
11,800 dailY
10,600 dailY
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tenant overview
www.cvs.com
cVS HealtH cORP (nYSe: cVS)CvS health Corp. (formerly CvS Caremark), is the nation’s #2 drugstore chain and a leading pharmacy benefits manager with nearly 65 million plan members. With more than 7,800 retail and specialty drugstores under the CvS, navarro, and Longs drug banners. CvS health made its debut in the Top 10 of the Fortune 500 in 2015.
in addition to its pharmacy operations, the company sells retail items, and runs a prescription management company, Caremark Pharmacy Services. The company also offers walk-in health services through its retail network of MinuteClinics that are located in more than 900 CvS stores.
cVS HealtH cORPORatiOn StatS & RankinGS
CVS Health - Investment Grade Rated – BBB+
2014 Revenues - $139.4 Billion
#10 in FORTUNE 500 (June 2015)
#59 in FT Global 500 (June 2015)CvS - LinCoLn AvE, ChiCAgo | 10
doWnToWn ChiCAgo
11,800 da
ilY
POPUlatiOn
2015 HOUseHOld incOMes
1-Mile 3-Mile 5-Mile
2010 53,647 549,178 1,088,5832015 54,877 559,851 1,112,2912020 55,922 570,162 1,134,135
1-Mile 3-Mile 5-Mile
Average $100,871 $81,692 $79,794Median $72,156 $55,323 $53,430
demographics & maps
Outstanding
demographics
18 Min7 MiLES
31,200 dailY
o’hARE inT’L AiRPoRT
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Chicago, the seat of Cook County, is the third most populous city in the United States and is the most populous city in the state of illinois and the Midwest with over 2.7 million residents. The Chicago metropolitan area is home to nearly 10 million people. As of 2012, Chicago had the third largest gross metropolitan product in the country at $571 billion.
The city is an international hub for finance, commerce, industry, technology, and telecommunications. it has the second largest central business district in the U.S. The Chicago MSA has the third largest science and engineering work force of any metropolitan area in the nation and is the center for transportation, the o’hare international Airport is the busiest airport in the world, and has the largest number of U.S. highways and railroad freight.
Chicago was named the “Best Sports City” in the U.S. by the Sporting news in 1993, 2006, and 2010. it is home to two MLB teams: the Chicago Cubs and the Chicago White Sox, and the nBA team, the Chicago Bulls, one of the most recognized basketball teams in the world.
in 2014 Chicago hosted 50.2 million international and domestic visitors. Chicago’s culture includes contributions to the visual arts, novels, film, theater, especially improvisational comedy, and music.
irreplaceable chicago metro real estate
location
Employer # of Employees*Accenture 5,600W.W. grainger 3,941hyatt hotels 3,873gE 3,350*Approximate
tOP eMPlOYers in cHicagO
about Chicago
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zEB [email protected] | (415) 274-2702CA BRE# 01002010
Chris [email protected] | (415) 274-2701CA BRE# 00869657
Chris [email protected] | (415) 274-2703 CA BRE# 01339983
illinois broker/local market representative: paul [email protected] | (630) 954-7354