Highlights
• Rare opportunity to acquire a well-located North Side property with a CVS Pharmacy ground lease in place through January 2026 • Positioned at the southeast corner of Lawrence Avenue & Milwaukee Avenue, a signalized intersection with exposure to ~23,000 vehicles per day • Generates an in-place NOI of approximately $324,760
Description
This 10,880-square-foot freestanding building, ground-leased to CVS Pharmacy (dark), is located in Chicago’s Portage Park neighborhood at the southeast corner of Milwaukee Avenue and Lawrence Avenue, just two blocks west of the Kennedy Expressway (I-90/I-94). Positioned 10 miles north of downtown Chicago and six miles southeast of O’Hare International Airport, the property has been leased to CVS since December 2003, with a lease term running through January 2026. The site generates a net operating income (NOI) of approximately $324,760 and features a freestanding building with drive-thru access, 38 surface parking spaces, and pylon signage offering visibility to roughly 23,000 vehicles per day. Located just a quarter mile from the Jefferson Park Metra station and adjacent to Portage Park’s primary commercial corridor, the property is surrounded by a strong mix of retailers and community destinations, including Jewel-Osco, Target, Mariano’s, Marshalls, Walgreens, Ross Dress for Less, PetSmart, Starbucks, Dollar Tree, Chipotle, McDonald’s, Popeyes, and the Copernicus Center, a major local event venue.
Listing Details
- Cap Rate
8.1%
- Tenancy
Single
- Space Type
retail
- Sub Category
pharmacy
- Sale Type
Investment Sale
- Date Listed
9/8/2025
- Net Operating Income
$324,760
- Ground Lease
Yes
- Parking Info
38 Spaces (3.49 Spaces per 1,000 SF Leased)
- Building FAR
0.33
Property Specifics
- Property Name
CVS | 4777 N Milwaukee Ave
- Property Class
B
- No of Buildings
1
- No of Stories
1
- Year Built
2003
- Building Size
10,880 SF
- Lot Size
0.72 AC
- Zoning
B3-2
- Occupancy
100%