Business

Wheaton property sold for $2.3 million

Posted September 10, 2018 1:00 am

Daily Herald Report

Marcus & Millichap, a commercial real estate investment services firm, announced the sale of a 12,306-square-foot mixed-use property in Wheaton.

Steven D. Weinstock, regional manager of the firm's Oak Brook office said that after procuring nine offers, the asset sold for $2.3 million.

Adrian Mendoza, Sean R. Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap's Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a limited liability company, was also secured and represented by Sharko and Weisenbeck along with Brewster Hague.

Located at 820 E. Roosevelt Road, the property offers a diverse, stable income stream with three national tenants as well as a residential unit. Anchor O'Reilly Auto Parts has 9 1/2 years remaining on its lease, while Jimmy John's recently entered a 10-year lease extension. Previously leased storage space offers the ability to create additional value through lease-up.

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