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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Interra Brokers 1031 Deal for Firestone Location

Interra Realty brokered the sale of a Firestone Complete Auto Care at 8801 Skokie Blvd. in Skokie, IL, for $3.7 million through a 1031 exchange.

Interra director Paul Waterloo represented the private local buyer, who will assume an existing lease with seven years remaining. Colin O’Malley, also a director at Interra, represented the private seller, a family trust that has owned the asset for more than 50 years.

“The Skokie Boulevard property offered excellent visibility and an existing net lease with a creditworthy tenant, both of which enhanced its marketability,” said O’Malley. “As this transaction demonstrates, 1031 exchanges are often a gateway to single-tenant net lease retail investments. The assets are less management-intensive than other property types.”

The property has been leased to Firestone throughout the duration of the trust’s ownership. Built in 1950, it features nine bays and 18 drive-in doors for service.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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