Marcus & Millichap closed the sale of Bloomington Commons, a 15-suite shopping center anchored by Schnucks in Bloomington, Illinois. The property sold for $13.4 million.
Sean Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a local developer who executed on their business plan with the center and sold after an 8-year hold. The property was purchased by a West Coast doctor acquiring his first asset in the Midwest.
Bloomington Commons, located at 1701 E. Empire St., is a 132,966-square-foot shopping center featuring national tenants including Barnes & Noble, The UPS Store, Kumon Math & Reading Center, Chuck E. Cheese and H&R Block. Situated at a high-traffic intersection near Eastland Mall, the center sees more than 61,000 vehicles per day. Schnucks, anchor tenant since 1989, recently renewed its lease for a 10-year term.
