Marcus & Millichap facilitated the sale of a 14,421-square foot, net-leased CVS property located in Tinley Park, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $5,225,000.
Matt Emerick, associate, Austin Weisenbeck and Sean R. Sharko, senior vice presidents and 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 property is located at 9551 W. 171st Street in Tinley Park. The property was a build-to-suit for CVS with a long-term lease. The asset procured multiple offers from out-of-state investors and sold at 95 percent of the list price to an institutional, Texas-based buyer.