Net Lease N Illinois

Marcus & Millichap arranges $2.3M sale of net-leased property

Marcus & Millichap arranges $2.3M sale of net-leased property,ph1

Marcus & Millichap announced the sale of a 7,497-square-foot, net-leased property located at 1341 Butterfield Road in Downers Grove, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $2,300,000.

Austin Weisenbeck and Sean R. Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property as a value-add opportunity on behalf of the seller, a limited liability company. After procuring many offers, the asset—a fully built-out restaurant with high-end finishes—went from contract to close in 60 days.

The property is situated across from Finley Square Shopping Center and Butterfield Plaza which houses many national retailers such as Buy Buy Baby, Michaels, Bed Bath & Beyond and Best Buy. Yorktown Center, a 1.5 million-square-foot shopping center, is also less than a mile away.