Marcus & Millichap arranged the sale of a 10,500-square-foot retail property located in Elgin, Illinois. Per Steven D. Weinstock, regional manager and senior vice president of the firm’s Chicago Oak Brook office, it sold for $2,125,000 million with no re-trades on price and terms.

Marcus & Millichap’s Adrian Mendoza, first vice president, along with Austin Weisenbeck and Sean Sharko, senior managing directors, had the exclusive listing to market on behalf of the seller, a limited liability company. The team procured seven offers from in-state and out-of-state investors. The buyer, an East-coast based LLC/personal trust with a 1031 exchange, was secured by Mendoza, Weisenbeck, and Sharko.

The center is anchored by Advance Auto Parts, which makes up 65% of the income, and is located at 1881 Larkin Avenue. The service-based tenant center is 100% occupied with a stable tenant roster. The population within five miles is currently 168,008 residents, with anticipated growth of 2.46% over the next five years.

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