CRE Midwest

Marcus & Millichap arranges the sale of a 16,491 SF net-leased property

MM_lake
850 North Western Avenue

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of The Fresh Market, a 16,491-square foot net-leased property located in Lake Forest, IL

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of The Fresh Market, a 16,491-square foot net-leased property located in Lake Forest, IL, according to Steven D. Weinstock, Vice President/ Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $4,348,000.

Dominic Sulo, Sean R. Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Adrian J. Mendoza, Sean R. Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office.

The Fresh Market is located at 850 North Western Avenue in Lake Forest, IL and sold in 47 days at 100 percent of its list price. Located on the west side of Western Avenue in the prestigious downtown Lake Forest, Illinois, the property sits just across the street from the Metra stop, which makes it convenient for people coming and going from the train. Lake Forest is known for its upscale lavish lifestyles, with average household incomes of $190,000 within a one mile radius.

In 2008/2009 the property underwent a complete remodel for The Fresh Market. The original structure was completely gutted and there was a new addition put on the building, the entire structure is now functioning as one complete building; housing The Fresh Market.