Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Crystal Lake Mariano’s Trades in 1031 Deal
Northmarq investment sales broker Jason Maier completed the sale of a freestanding Mariano’s supermarket at 105 Northwest Hwy. in Crystal Lake, IL. Maier represented the seller, a New York-based private investor. The 74,800-square-foot property was acquired for approximately $34.7 million by a 1031 exchange buyer based in New York.
“We were very pleased to have represented both parties in this transaction,” said Maier. “It was the perfect timing and the ideal property for a 1031 buyer that our team was exclusively representing. One of the major benefits of our platform is the access we have to some of the best trophy triple-net-leased properties in the country.”
The property was built in 2018 as the most recent Mariano’s prototype format and is situated on an 8-acre lot at the signalized intersection of Northwest Highway and South Virginia Road. Mariano’s is a brand of grocery giant Kroger.
- ◦Sale/Acquisition
