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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Marcus & Millichap Closes Two-Tenant Retail Sale in Lockport

Marcus & Millichap recently closed the sale of Arbys & Bank of America Grocery Shadow Anchor, a 3,670-square foot, two-tenant retail property in Lockport, IL. The asset sold for $1,650,000.

SVPs Austin Weisenbeck and Sean R. Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a limited liability company. The buyer, a limited liability company affiliated with one of the tenants, exercised a first right of refusal after Weisenbeck and Sharko produced a third-party offer.

Arby’s & Bank of America Grocery Shadow Anchor is located at 16545 W. 159th St. in Lockport.  The property is an outlot of a Jewel-Osco grocery store. The tenants are a single-unit Arby’s franchisee and a Bank of America teller-less facility.

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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).