Marcus & Millichap announced the sale of DaVita Dialysis | AT&T, a 6,831 square foot retail property located in Alsip, IL, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $1,775,000.
Austin Weisenbeck, Sean R. Sharko and Adrian Mendoza, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, a private investor, was secured and represented by Jacob Levy, an investment specialist in Marcus & Millichap’s San Francisco office.
DaVita Dialysis | AT&T is located at 11500 South Pulaski Road in Alsip, IL, at the lighted intersection of West 115th Street and South Pulaski Road. This location is said to be a great area for business with approximately 145,777 people within three miles of the property and 44,600 vehicles driving through this intersection per day.
The DaVita Dialysis | AT&T center is 100% occupied by two strong tenants, both with brand new leases. DaVita Dialysis has recently signed a 10-year net-lease that includes three, five-year options to renew. AT&T has a three-year net lease reimbursing all expenses with two, five year options to renew. In addition, both tenants have regularly scheduled rent increases.