Marcus & Millichap Real Estate Investment Services has sold a former Bally’s Total Fitness building, a 98,881-squar-foot net leased property located in Matteson. The asset commanded a sales price of $725,000.
Steven Stoehrer and George Ghattas, investment specialists in Marcus & Millichap’s Manhattan and Chicago downtown offices, had the exclusive listing to market the property on behalf of the seller, a partnership.
The asset is a prime retail redevelopment site located at 4701 Lincoln Mall Drive, in the epicenter of the area’s major retail district with the Lincoln Mall directly east, a new Target and JCPenney store immediately south and Walmart, Sam’s Club and Menards across the street. The 2.27-acre parcel has ample visibility from the signalized intersection on the northeast corner of Cicero Avenue and Promenade Way.
