Retail N Illinois

Marcus & Millichap closes retail, mixed-use deals in western suburbs

Marcus & Millichap closes retail, mixed-use deals in western suburbs,ph1
605-621 W. Roosevelt Road, Maywood, Illinois.

Marcus & Millichap announced the sale of two properties in Chicago’s western suburbs. A 16,500-square-foot mixed-use property located in Franklin Park sold for $650,000 while a 9,176-square-foot retail property located in Maywood went from contract to close in 47 days and sold for $1,596,000.

Anthony Catanese, an associate, and James Ziegler, first vice president investments, in the firm’s Chicago downtown office, marketed the Franklin Park property on behalf of the seller as well as the buyer. Located one mile south of the Metra Franklin Park train station at 10005 Grand Avenue, the mixed-use building is comprised of six fully occupied retail spaces on the first floor. The second floor is approved for four one-bedroom/one-bathroom units and also includes eight offices that can be converted into one-bedroom/one-bathroom apartments.

In a separate transaction, Adrian Mendoza, first vice president investments, Austin Weisenbeck, senior vice president investments, and Sean R. Sharko, senior vice president investments, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed Maybrook Plaza on behalf of the seller and represented the out-of-state buyer. Located at 605-621 West Roosevelt Road in Maywood—directly across from John J. Madden Mental Health Center, Loyola University Medical Center, Loyola Medicine Health Science Campus and Edward Hines VA Medical Center—Maybrook Plaza was 90 percent leased at the time of the sale.