Marcus & Millichap facilitated the sale of Springfield Plaza, a 10,198-square-foot shopping strip located at 121 Springfield Avenue in Joliet, Illinois, according to David G. Bradley, regional manager of the firm’s Chicago Downtown office. The asset sold for $680,000.
Brian Parmacek, a first vice president investments, and Luke Kingsbury, an associate, in Marcus & Millichap’s Chicago Downtown office, represented both the seller and purchaser in this transaction.
Springfield Plaza is strategically located near other commercial developments, single-family homes and apartment complexes. There are over 83,000 residents within a three-mile radius of the property, bringing in consistent business and keeping the area well trafficked. This shopping strip comprises seven suites and is fully leased to a variety of tenants.