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Palatine Center Goes from Contract to Close in 10 Weeks
Marcus & Millichap has finalized the sale of a 50,400-square-foot retail property in Palatine, IL. The asset went from contract to close in 73 days, and sold in an all-cash transaction for $4,442,500.
Adrian Mendoza, Austin Weisenbeck and Sean R. Sharko of Marcus & Millichap’s Chicago Oak Brook office exclusively marketed the property on behalf of the seller. The Chicago-based buyer, a private investor, was procured and represented by Mendoza, Weisenbeck and Sharko.
Located at 1160-1220 E. Dundee Rd. in Palatine, the property is anchored by Plaza La Rosita, a specialty Hispanic grocery store that has operated on the site for over 15 years and recently signed a new 10-year lease extension. The buyer will have the opportunity to add significant value by leasing the remaining 7,500 square feet of vacant space.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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