Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Palatine Center, a 46,095-square-foot office property located at 865-909 E. Wilmette Road in Palatine, Illinois. The asset sold for $5,000,000.
Tammy A. Saia and Tami Andrew had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company located in Texas, was secured by Saia and Andrew.
The property was 100% occupied, with an impressive 85.3% of tenants at this location for 17-27 years. This 46,095-square-foot, single-story campus comprises three buildings and accommodates five tenants. The anchor tenant, a specialized school, occupied a significant 69.6% of the space. This school offers unique programming tailored to the needs of students on the autism spectrum or those with similar requirements.
