Net Lease N Illinois

Hanover Park asset sells to out-of-state buyer for $2.9 million

Hanover Park asset sells to out-of-state buyer for 2.9 million,ph1

A triple-net-leased Harbor Freight Tools and AutoZone property at 1557-1559 Irving Park Road in Hanover Park, Illinois sold to a California buyer seeking a stabilized property. Al Lindeman and Tim Franz of SVN Chicago Commercial were the sole brokers involved in the transaction. The asset sold for $2,900,000.

“The Midwest continues to draw demand from coastal buyers chasing yield away from their home turf. The asset garnered numerous offers due to its strong and complementary tenancy along with the market stability both locally and in the Chicago MSA in general,” Franz said.