Marcus & Millichap negotiated the sale of 7301 183rd St., an 11-suite retail strip property in Tinley Park, Illinois. The property sold for $5.85 million.
Marcus & Millichap Capital Corporation, a subsidiary of Marcus & Millichap, arranged the financing.
Adrian Mendoza, Sean Sharko and Austin Weinsenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a family partnership, and procured the buyer, a private California-based investor. Dean Giannakopoulos, senior managing director in MMCC’s Chicago Downtown office secured $4.1 million in financing.
The property is situated on 3.55 acres at 7301 183rd St., surrounded by a strong economic base, with over 70,000 residents and an average household income exceeding $111,000 within a three-mile radius. The property features a diverse tenant mix of food, service, and medical businesses.
Key tenants include Buffalo Wild Wings, which recently signed a 7-year lease extension and invested $600,000 in renovations, and Pop’s Italian Beef, which has been operating for 16 years. The property spans 3.55 acres with 350 feet of frontage and easy access from Interstate 80.
