Real Estate
Walgreens to Sell and Lease Back Deerfield Office Campus
The drug company wants to generate capital for reinvestment by selling then leasing a six-building office campus on Lake Cook Road.
Deerfield-based Walgreens plans to sell a six-building, 38-acre office campus on Lake Cook Road, which it would then lease back as a long-term tenant, reported Chicago Real Estate Daily.
The asking price for the buildings, which have a 574,605 combined square-footage, is $85 million.
"By selling and leasing back the six buildings south of Lake Cook Road, we can generate capital for reinvestment in our core business, including improvements and innovations in our retail drugstores," said a Walgreen spokesman in a statement to Chicago Real Estate Daily.
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