Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of a Chipotle drive-thru anchored strip center, a 9,907-square-foot retail property located in New Lenox, Illinois, according to Joe Powers, regional manager of the firm’s Chicago Downtown office. The asset sold for $4,987,880 at $503 per square foot.
Brian Parmacek, an investment specialist in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a prominent Chicago-based developer.
The Chipotle drive-thru anchored strip center is located at 651 East Lincoln Highway in New Lenox, Illinois. The property features one of the first drive-thru Chipotle’s in Illinois, and the balance of tenants includes MOD Pizza, Smoothie King, Classy Nails and Vino Gaming Wine Bar. Parmacek procured nine written offers within the first three weeks. The asset drew interest from a national buyer pool, with offers coming from Florida, New York, Utah, and California, as well as local investors.
