Office N Illinois

Marcus & Millichap sells four-building office portfolio in Chicago suburb

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Marcus & Millichap has sold Crown Corporate Center, a four-building single-story office portfolio located at 1275-1425 Tri State Parkway in Gurnee, Illinois.

Marcus & Millichap has sold Crown Corporate Center, a four-building single-story office portfolio located at 1275-1425 Tri State Parkway in Gurnee, Illinois.

The portfolio is located off Interstate-94 across from Gurnee Mills Shopping Outlet Mall.

The properties were built between 1989 to 1998, and include 156,765 rentable square feet. They are 51 percent occupied by six tenants, all on net lease reimbursement structures.

The portfolio sold for $8.65 million. Stephen Lieberman with Marcus & Millichap had the exclusive listing to represent the Seller in the transaction, Crown Properties Inc. based out of New York.  Costa Construction, based in Bridgeview, Illinois, was the buyer, satisfying a 1031 real estate trade.