Marcus & Millichap closed the sale of Little Caesars, a 2,500-square-foot net-leased property in South Holland, Illinois. The asset sold for $606,000.
Adrian Mendoza, first vice president; Austin Weisenbeck, senior vice president; and Sean Sharko, senior vice president, all in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
Having procured seven written offers, the eventual buyer, a California-based 1031 exchange investor, was secured and represented by Mendoza, Weisenbeck and Sharko. The deal went from contract signing to closing in 23 days.
Little Caesars is a freestanding corporate property with a drive-thru and is located at 1000 E. 162nd St. in South Holland. The tenants exercised a new lease extension two years early and invested $400,000 for a complete remodel.