Business

Des Plaines plaza sold for $6.4M

Posted November 06, 2018 12:00 am

Daily Herald Report

Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Oaklee Plaza, a 34,267-square-foot stabilized asset anchored by a new extended Starbucks, in Des Plaines.

Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office, said the property sold for $6.4 million.

The Chicago-based buyer was secured and represented by Austin Weisenbeck and Sean R. Sharko, investment specialists in Marcus & Millichap's Chicago Oak Brook office.

Located at 1427-1485 Lee Street in Des Plaines on a prime location just north of the Lee and Oakton Street intersection, the property is exposed to over 53,000 vehicles passing per day. The population within a five-mile radius is 298,000 with an average household income of approximately $90,000.

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