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Naperville’s Oldest Property Trades in M&M Transaction
Marcus & Millichap has arranged the sale of the Joseph Naper Building, the oldest building in Naperville, IL. The 7,050-square foot, mixed-use property, which will mark its 175th anniversary in 2020, sold for roughly $3.65 million.
Tammy Saia, Tami Andrew, Andrean Angelov, Ryan Engle and Timothy B. Stephenson Jr., all of Marcus & Millichap’s Chicago Oak Brook office, marketed the multi-story property on behalf of the seller, a private investor. The property sold to a California-based private investor.
Built in 1845 by Joseph Naper, one of the founders of what is now Naperville, the property is 100% occupied by office and retail tenants that include Alixandra Collections, J McLaughlin, Memory Keepers, Brodzinski Law and Passages.
The Naper Building is located on the historic Main Street retail corridor in Naperville, with over one million square feet of retail and 253,885 people living within a five-mile radius. It has experienced high occupancy historically.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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