JLL Capital Markets has closed the $2.7 million sale of a net-leased, 5,000-square-foot retail building occupied by three retail tenants in the Chicago-area community of South Holland, Illinois. JLL marketed the property on behalf of the seller, Glazier Corporation, a local Chicago developer. A private investor out of Southern California purchased the asset.
The property is anchored by Chipotle, a corporate wireless provider and JJ Fish & Chicken. Chipotle has been a tenant since the building was constructed in 2018, and all three tenants have been allowed to stay open during the COVID-19 pandemic due to their essential nature. Situated on 0.85 acres at 549-559 E. 162nd Street, the building is at a signalized intersection and has excellent visibility to more than 35,000 vehicles per day. The property is also in an area with a dense residential customer base with more than 91,000 residents living within a three-mile radius of the property.
The JLL Capital Markets team representing the seller was led by managing director Alex Sharrin, director Alex Geanakos and analyst Eric Cline.
“Infill retail with a strong credit mix continues to garner private capital interest,” Sharrin said.
