Marcus & Millichap brokered the sale of a 22-suite retail property in Naperville, Illinois.
The property sold for $6.995 million. Marcus & Millichap Capital Corporation, a subsidiary of Marcus & Millichap, arranged the financing.
Sean Sharko, Austin Weisenbeck and Adrian Mendoza, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, 1550 State RTE 59 LLC, and procured the buyer, an out-of-state professional ownership group that was expanding its Illinois portfolio.
Dean Giannakopoulos, senior managing director in MMCC’s Chicago Downtown office secured $5,105,000 in financing with a regional bank on behalf of the buyer.
The 59,935-square-foot center is at 1550 N. Illinois Rte. 59 with access to Interstate 88. Built in 1988, the property is anchored by Dollar Tree and Anytime Fitness, with a mix of long-term tenants spanning dining, retail and service-oriented businesses, some of which have operated there since its construction.
