Marcus & Millichap announced the sale of a former grocery store redevelopment, a 31,650-square-foot net-leased property located in St. Charles, Illinois. The asset sold for $4,110,000.
Senior Managing Directors Austin Weisenbeck and Sean R. Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a limited liability company, who previously operated in the property as an owner, user. The buyer, a limited liability company, was secured and represented by Weisenbeck and Sharko. They buyer is a developer who has national tenant relationships.
The property is located at 300 S. 2nd St. in St. Charles, Illinois, and will be redeveloped into a national branded grocery store. The property is situated in Downtown St. Charles, adjacent to First Street Plaza and riverfront, mixed-use properties spanning five blocks. The property was originally built in 2008.
