Marcus & Millichap announced the sale of Grease Monkey, a top-ranking Grease Monkey location. The asset traded for $1,375,000.
Brian Bailey and Drew Isaac had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a boutique real estate investment firm based in California, was secured and represented by Mitchell Kiven and Nicholas Kanich. Steven Weinstock, broker of record in Illinois, assisted in closing this transaction.
This 1,800-square-foot Grease Monkey is located at 1079 West Maple Ave. in Mundelein, Illinois. It is located across the street from Mundelein High School at a signalized intersection. The buyer had canvassed the site with Mitchell Kiven a couple years before it was listed by Brian Bailey and Drew Isaac; according to Mitchell, “The buyer was attracted to the core fundamentals of the underlying real estate, the long-term lease and cash flow from Grease Monkey was certainly a consideration but at the end of the day this is a corner that this particular buyer wanted to own.”
The buyer closed on the property 20 days after going under contract.
