Marcus & Millichap has successfully closed the sale of a prime net-leased Walgreens property in Machesney Park, IL. The transaction was valued at $4.2 million and was facilitated by investment specialists Joe J. Sparano, Dan Yozwiak, and Darpan Patel from Marcus & Millichap’s Columbus and Tampa offices.
The seller of the 14,490-square-foot property was a limited liability company represented by Steven Weinstock as Illinois broker of record.
According to lead agent Joe Sparano, “We were able to secure a local 1031 buyer just seven days after listing the property.” He also noted that with the help of their team and Marcus & Millichap’s platform, they were able to close this deal within 30 days.
Located at 1680 West Lane Rd., this Walgreens store was built in 2008 on a highly visible corner lot with easy access from two major roads. Its strategic location makes it an attractive investment opportunity for buyers looking for stable long-term returns through triple-net lease agreements.
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