Marcus & Millichap negotiated the sale of a net-leased Diamonds Direct property in Oak Brook, Illinois for $6.115 million.
Nicholas Kanich, investment specialist in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a global real estate investment manager, and a broker with a boutique Chicago firm procured the buyer, a family partnership in a 1031 exchange based in South Dakota.
Located at 1150 W. 22nd St., the property is a 6,000-square-foot, single-tenant building under a triple-net ground lease with Diamonds Direct, with just under 14 years remaining. Situated at a high-traffic intersection in Oak Brook, a wealthy Chicago suburb, the property has visibility to more than 138,000 vehicles per day and is part of the 17-acre Oak Brook Commons mixed-use development.
