Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Hoffman Estates Grocery Changes Hands in 1031 Exchange
Marcus & Millichap closed the sale of Valli Fresh Market, a 61,047-square-foot net-leased grocery at 850 N. Roselle Rd. in Hoffman Estates, IL. The property traded for $8,000,000.
First VP Adrian Mendoza and SVPs Sean R. Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a local private investor.
The Florida-based buyer was represented in a 1031 exchange by a cooperating broker, with financing obtained on behalf of the buyer by Brian J. Stulak, senior managing director, Marcus & Millichap Capital Corporation. The deal went from under contract to close in 42 days with no re-trades after procuring multiple offers from out-of-state investors.
The site sees more than 80,000 vehicles per day, and Valli Produce recently signed a 10-year ground lease to remain at the property through 2031.
- ◦Sale/Acquisition


