Highland Park, IL (October 10, 2018) – SRS Real Estate Partners’ National Net Lease Group announced today it is marketing for-sale a single-tenant property fully occupied by Walgreens in Highland Park’s downtown Ravina shopping district. SRS’ National Net Lease Group Senior Vice Presidents Dan Elliot and Sean Lutz out of the Chicago office have been named the exclusive advisors on behalf of the local seller. The 14,334-square-foot property is being offered at $5,214,000 and is located at 632 Roger Williams Ave. in the affluent North Shore area of Highland Park. Additionally, with this pricing, the cap rate is at an attractive 7 percent.
“This is a rare chance to purchase a quality net leased asset in Highland Park’s Ravinia business district,” said Lutz. “Commerical properties in this area are scarce and are in high demand as it has a densely populated and affluent demographic base. With more than 111,000 residents and nearly 122,000 employees within a five-mile radius, and a high average household income of approximately $213,000 within one-mile of the property, we anticipate a significant amount of investor interest in this corporate-guaranteed retail property.”
The Highland Walgreens was built in 2000 and includes a drive-thru and is situated on a .81-acre land parcel at a signalized intersection of Roger Williams Ave. and Broadway Ave. Nearby national tenants include Trader Joe’s, Nordstrom Rack, Marshalls, TJ Maxx, and LA Fitness, among others. Just west of the property is the Northmoor Country Club golf course, Sunset Valley golf club and Bob – O’Link golf club. Additionally, the Ravina Festival, the nation’s oldest outdoor music festival venue, is just 1.5 miles away.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.
SRS’ National Net Lease Group is a unified platform of seasoned net lease professionals located throughout SRS’ more than 20 offices nationally, with all underwriting and marketing efforts strategically located in Southern California. In 2017, the group completed more than 270 sales across more than 30 states, with increasing volume year over year. From proactive sales to targeted acquisitions and tailored debt and equity solutions, combined with the real time tenant intelligence and local market presence via the firm’s offices, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors nationwide. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS national network allow SRS’ National Net Lease Group to deliver the best results for our clients. For more information, please visit srsre.com/national-net-lease-group.