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Chicago & Midwest  + South Side  + Retail  | 
JRW Realty Closes Over $800M in Properties in 2022

Net-Leased CVS Fetches $3.25M in All-Cash Deal

Marcus & Millichap has facilitated the sale of a 22,007-square-foot net-leased CVS on the city’s West Side. The asset sold in an all-cash transaction within 95% of list price for $3,250,000.

Brian Parmacek, 1st VP investments, and associate Victor Cornelio, both of Marcus & Millichap’s Chicago Downtown office, exclusively marketed the property on behalf of the out-of-state seller, and also represented the local buyer.

The property is located at 2634 S. Pulaski Rd. along 26th Street, reportedly the second-highest revenue-driven retail corridor in Chicago. The local buyer acquired the property due to the infill-dense location and intrinsic value of the real estate.

At the time of sale, there were more than 13 years remaining on the absolute net lease with CVS. Marcus & Millichap says the property benefits from three points of ingress/egress, 62 onsite parking stalls, and nearly an entire city block of frontage along Pulaski Road.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition