CRE Midwest

Former Applebee’s in Arlington Heights sells

111-e-algonquin
111 E. Algonquin

Sperry Van Ness, LLC has just completed the sale of a 5,500 square foot former Applebee’s at 111 E. Algonquin Road in Arlington Heights, Illinois.

Sperry Van Ness, LLC has just completed the sale of a 5,500 square foot former Applebee’s at 111 E. Algonquin Road in Arlington Heights, Illinois. Tim Rasmussen and Olivia Czyzynski of Sperry Van Ness, LLC represented the seller. The restaurant sold for $1,360,000. Stephen Lieberman of Marcus and Millichap represented the buyer in the transaction.

“This is the second Applebee’s that Sperry Van Ness sold in the Chicago suburbs this year,” Rasmussen said. “Last year, a large franchisee of Applebee’s was placed into bankruptcy, resulting in the closing of many of their local stores,” he added.