Greenstone Partners, a Chicago-based commercial real estate brokerage firm, announced the sale of a multi-tenant retail property located in Crystal Lake. The $3 million sale was brokered by Greenstone Partners’ Managing Partner Jason St. John and Investment Associate AJ Patel, who represented the seller — a local, private partnership. The brokers also procured the buyer, a private partnership in a 1031 exchange, with one local Chicago-based investor and one New York-based investor.
At nearly 12,000-square-feet, the building is located at 5899 Northwest Highway and is positioned along 140 feet of four-lane frontage, lending tenants access to a robust commercial corridor. The building is currently 77% occupied, providing an investor the ability to add value by leasing up the two remaining vacant units.
