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Walgreens Sale Dips Below 6% Cap Rate

SCHAUMBURG, IL-The 14,820-sf store being built at 770 E. Schaumburg Rd. sells for $5.8 million. It is near the Market Square retail center at the corner of Schaumburg and Plum Grove roads.

By Mark Ruda | Updated on February 23, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

SCHAUMBURG, IL-A Walgreens pharmacy here has been sold for a capitalization rate below 6%. The 14,820-sf store being built at 770 E. Schaumburg Rd., triple-net leased to the Deerfield-based pharmacy giant, was sold for $5.8 million.

Public records indicate the Walgreens was sold by the Park Ridge-based owners of the neighboring Market Square retail center at the corner of Schaumburg and Plum Grove roads. Besides selling at $390 per sf, the Walgreens deal was at a 5.9% capitalization rate.

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