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Net-leased gas station in Prospect Heights sells for $2.8 million

June 26, 2019
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Marcus & Millichap closed the sale of Thorton’s, a 4,400-square foot net-leased property located in Prospect Heights, Illinois. The asset, located at 1600 N. Rand Road, went from contract to close in 38 days and sold for $2,815,533.

Austin Weisenbeck, senior vice president investments, and Sean R. Sharko, senior vice president investments in Marcus & Millichap’s Chicago Oak Brook office represented the seller. The private 1031 exchange buyer was represented by Joseph Bono along with Weisenbeck and Sharko. The new construction property comes with a 20-year corporate lease with rare rental increases in the primary lease term.

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1031 exchangeIllinoisMarcus & Millichapnet leaseprospect heightsretailThorton’s
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