Walgreens

Highlights:

• 13,905 SF Former Walgreens: Freestanding former drugstore equipped with an existing drive-through.
• ±1.27-Acre Site: Built in 1999, with on-site parking and drive-through circulation.
• Signalized Hard Corner with Excellent Frontage: Approximately 284.5 feet along Torrence Avenue and 125 feet along Ridge Road, providing visibility along both corridors.
• Strong Traffic Exposure: Reported traffic counts of 30,027+ vehicles per day on Torrence Avenue and 8,633+ vehicles per day on Ridge Road.
• Established Chicago Suburb: Located in Lansing, Illinois, within the Chicago metropolitan area.
• Dense Surrounding Demographics: Approximately 76,000 residents within three miles and more than 220,000 residents within five miles.
• B-2 Community Retail and Service Zoning: Commercial designation intended for retail and service uses. Prospective buyers and tenants must independently verify permitted uses and required approvals with the Village of Lansing.
• 2020 Roof Replacement: TPO roof replaced in 2020, backed by a 10-year contractor warranty and 20-year manufacturer warranty.
• Proximity to Proposed Chicago Bears Stadium Development: Located in Lansing near Hammond, Indiana, the property offers potential upside from the Bears’ proposed stadium and mixed-use development near Wolf Lake, which could increase regional visitation, consumer spending and retail demand if completed
• Current tenant occupies the building until February 28, 2027, paying $28,737 Monthly.

Description:

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Located in the southern suburbs of the Chicago metropolitan area, Lansing, Illinois, is an established community recognized for its strategic location, dense demographics, and business-friendly environment. Positioned right along the Illinois-Indiana border, with immediate access to Interstate 80/94 (the Kingery Expressway) and Interstate 394, Lansing offers outstanding regional connectivity throughout Chicagoland and the broader Midwest. The village's location makes it an attractive destination for retailers, service providers, distribution users, and employers seeking convenient access to major transportation corridors.

Lansing benefits from the immense economic strength of the Chicago MSA while maintaining the advantages of a stable suburban community. The village has approximately 28,000 residents with a median household income of roughly $65,000, a strong middle-class workforce, and a high homeownership rate, reflecting long-term residential stability and reliable purchasing power. The dense surrounding population drives significant retail sales annually, demonstrating a healthy local consumer base that robustly supports national retailers and service-oriented businesses, particularly along major thoroughfares like Torrence Avenue.

The village continues to actively encourage commercial investment through pro-business policies and ongoing economic development initiatives. Lansing features active commercial development opportunities, a variety of quality housing options, excellent parks and recreational amenities, and a strong municipal commitment to business retention and expansion. These characteristics have helped attract both new employers and continued private investment throughout the community's retail and industrial sectors.

As part of the Chicago metropolitan area, Lansing is supported by a massive, diverse regional economy anchored by logistics, advanced manufacturing, healthcare, finance, and education. The area's skilled workforce, combined with excellent transportation infrastructure and proximity to major economic drivers like the Northwest Indiana industrial corridor and downtown Chicago, provides a solid economic foundation that continues to support commercial real estate demand across the region.

For investors, Lansing represents an attractive Midwestern market offering stable demographics, exceptional highway accessibility, a business-friendly climate, and long-term economic fundamentals that continue to support retail and commercial investment.

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