Marcus & Millichap brokered the sale of a 3,100-square foot net-leased Popeye’s property in McHenry, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $2 million.
Dominic Sulo, first vice president, and Sean M. Delaney, senior vice president 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 developer. The buyer, a limited liability company, was secured and represented by Alan Cafiero and Ben Sgambati, senior vice presidents and investment specialists in Marcus & Millichap’s New Jersey office.
The Popeye’s is located at 1800 N. Richmond Road in McHenry, Illinois. The property has a new 20-year lease commenced in early 2020 and the buyer acquired the property in the midst of the pandemic.