Marcus & Millichap announced the sale of a three-tenant retail property in Waukegan, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset went from contract to close in 78 days and sold for $1,029,000.
Located at 2811-2817 Grand Avenue on a signalized, hard corner, the property is less than two miles from the Route 41 interchange. The property is 100 percent occupied with annual rental increases for all tenants. Sean R. Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller, a developer.