Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Target & Toys R Us Retail Outlot, a 13,436-square foot retail property located in South Elgin, IL, according to Steven D. Weinstock, Vice President / Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $3,795,000.
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. The buyer, a national shopping center owner, was also secured by Austin Weisenbeck and Sean R. Sharko.
Target & Toys R Us Retail Outlot is located at 472 Randall Road in South Elgin, IL. The subject property is 100 percent leased to many well-known, nationally branded retailers including: Sherwin Williams, Lover’s Lane, For Eyes, Sports Clips and GameStop. South Elgin Commons is positioned as an out parcel to LA Fitness, Toys ‘R Us and Ross anchored center with excellent visibility along Randall Road with more than 28,000 vehicles driving past daily. The center is shadow anchored by a Super Target and is surrounded by other major national retailers such as Home Depot, Kohl’s, Best Buy, Walgreens, Jewel-Osco and TJ Maxx.