Oak Brook firm announces $4.5 million sale
Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Calistoga Plaza, a 36,839-square foot retail property in New Lenox.
According to Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office, the asset sold for $4.5 million.
Sean R. Sharko, Austin Weisenbeck and Joseph Sigal, investment specialists in Marcus & Millichap's Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a fund manager. The buyer, a limited liability company, was secured and represented by Brian Parmacek, an investment specialist in Marcus & Millichap's Chicago O'Hare office.
Calistoga Plaza is located at 2001-2131 Calistoga Drive in New Lenox. This plaza has a high traffic volume with approximately 15,600 vehicles driving by every day.
Within this plaza there is a great mix of tenants including Honeycuts, Grapple Games, Italian Fiesta Pizzeria, Arrowhead Ales, Badda Bings, Cedar Way Veterinary Clinic and Tuckers Doggy Delights. All tenants are currently operating under a net lease, reimbursing for their pro rata share of expenses. Four of these tenants, Honeycuts, Italian Fiesta, Tucker's Doggie Delights and Badda Bings have recently executed five-year lease extensions.