JLL Capital Markets has closed the $5.1 million sale of a 13,180-square-foot, single-tenant retail building ground leased to CVS Pharmacy in the Chicago-area community of Schaumburg, Ill.
JLL marketed the property on behalf of the seller, a New York–based private high-net-worth individual. A California-based DST provider purchased the asset.
Founded in 1963, CVS Health Corp. is the largest U.S. pharmacy by total prescription revenue. The company is headquartered in Rhode Island and employs more than 300,000 workers. This Schaumberg location is one of about 9,900 CVS retail locations, and is situated on 1.80 acres at 1855 W. Irving Park Rd. Completed in 2005, this property is just 30 miles outside of Chicago in an area surrounded by 132,270 residents within a three-mile radius. As an essential tenant, all CVS retail locations have continued to operate throughout the COVID-19 pandemic and has seen an increase in demand for prescriptions and product.
“Pharmacy