Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Advocate Medical Anchored Med-Tail Center, a 75,649-square foot multi-tenant retail property located in Glenview, Illinois. The asset sold for $18,125,000.
Sean Sharko, senior managing director investments, and Austin Weisenbeck, senior managing director investments, of Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a Chicagoland-based private investor. The buyer, a Chicagoland-based limited liability company, was secured and represented by Adrian Mendoza, first vice president investment, of Marcus & Millichap’s Chicago Oak Brook office. The contract closed in under 60 days.
Advocate Medical Anchored Med-Tail Center is located at 1412-1500 Waukegan Road in Glenview, Illinois within an ultra-affluent Chicago MSA location. The building is 97% occupied with a diverse roster; 21 tenants have been operating at the center for 16-30 years. Located on a strong retail corridor across from Trader Joe’s, the Glenview trade area is promising with an overall five billion in sales.
