Marcus & Millichap brokered the sale of a 1,914-square-foot, net-leased Starbucks property located in Des Plaines, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $1,595,000.
Austin Weisenbeck, senior vice president and Sean R. Sharko, 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 limited liability company. The property went under contract May 17, 2020 and sold to a local investor.
The Starbucks is located at 1427 Lee Street in Des Plaines, along the major north-south retail thoroughfare of Lee Street and Mannheim Road, next to Aldi, across from Jewel-Osco and adjacent to Dollar Tree. Starbucks has seven years remaining on a corporately guaranteed double-net lease and a 10-year lease was renewed early for an additional 10 years.