Marcus & Millichap announced the sale of a 98,765-square-foot retail property located in Aurora, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $5 million.
Austin Weisenbeck and Sean R. Sharko, senior vice presidents and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a local fund manager. The buyer, an Iowa-based limited liability company, was secured and represented by Weisenbeck and Sharko in an all-cash transaction. The deal went from under contract to close in less than 30 days.
Located at 1901 W. Galena Blvd. in Aurora, the shopping center is anchored by Rush-Copley Medical Center. Other tenants include Anytime Fitness and Hounds Town, adding to the property’s historically long-term tenancies. Developed land on-site coupled with 23,751 square feet of available vacant space create an opportunity for investors looking to capitalize on the property’s location.
