Waukegan retail site sells for $1,02 million

WAUKEGAN - Commercial real estate investment firm Marcus & Millichap said it sold a three-tenant retail property in Waukegan for $1.029 million. Located at 2811-2817 Grand Ave. on a signalized corner, the property is less than two miles from the Route 41 interchange. The property is 100 percent occupied with annual rental increases for all tenants.

Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office, said the property went from contract to close in 78 days. Sean R. Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap's Chicago Oak Brook office, exclusively marketed the property on behalf of the seller, a developer.