Marcus & Millichap brokered the sale of a 10,980-square-foot, net-leased CVS property located in Winfield, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $4,050,000.
Matt Emerick, associate, Austin Weisenbeck and Sean R. Sharko, senior vice presidents and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a partnership. Financing was obtained by Dean Giannakopoulos, senior vice president, and Frank Montalto, senior director, Marcus & Millichap Capital Corporation.
The CVS is located at 26W212 Geneva Road in. The property was sold at 92 percent of the list price and no rent credit was taken. This was a highly complex transaction.