Marcus & Millichap closed the sale of a 24-hour Walgreens drug store in Romeoville, Illinois. The asset sold for $6.5 million.
Brian Parmacek and Mitchell Kiven, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a prominent developer. The buyer, a New York-based private investor, was secured and represented by Benjamin Kohl, an investment specialist in Marcus & Millichap’s Chicago Downtown office.
Financing was obtained on behalf of the buyer by Frank Montalto, first vice president, and Dean Giannakopoulos, senior vice president, Marcus & Millichap Capital Corporation.
This Walgreens location is positioned at the entrance to Carillon, a vast, master-planned active adult retirement community on Weber Road in Romeoville. The 24-hour designation is a high honor for any Walgreens location and is indicative of top tier store sales. The transaction closed less than 60 days after going to contract, even with origination of new financing.
