Marcus & Millichap announced the sale of Citgo, a 16,117-square-foot net-leased property located in Waukegan, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $419,025.
Timothy Nichols, a senior associate and investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a local limited liability company. The buyer, another local limited liability company, was also secured and represented by Nichols.
Citgo is located at 3201 N. Lewis Ave. in Waukegan, Illinois, intersecting York House Road where traffic counts exceed 25,000 passing vehicles per day. The property consists of three 12,000-gallon tanks that have contributed to historic 45,000-gallons-per-month sales, and a 3,000-square-foot convenience store with inside sales of $40,000 per month.