CRE N Illinois

Marcus & Millichap arranges sale of Roselle mixed-use building

Marcus & Millichap arranges sale of Roselle mixed-use building,ph1

Marcus & Millichap closed the sale of Promenade Pointe of Roselle, a 15,626-square foot, mixed-use property located in Roselle, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $3,200,000.

Andrean Angelov, first vice president investments, and Ryan D. Engle, senior vice president investments, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller. The buyer was represented by Angelov and Engle along with Timothy B. Stephenson Jr., an associate, in Marcus & Millichap’s Chicago Oak Brook office.

Promenade Pointe of Roselle is located at 29 E. Irving Park Road, 30 miles northwest of the downtown Chicago Loop. The property, completed in 2017, features an elevator and heated underground parking. The first floor consists of three retail spaces while the second floor consists of eight apartment units and one office space. The apartment unit mix is comprised of four one-bedroom/one-bathroom units and four one-bedroom/one-bathroom loft units. Each apartment features hardwood floors, stainless steel appliances, marble granite countertops and in-unit laundry. At the time of the sale, the retail spaces were 100 percent leased.