Business

Thorton's property sells for $2.8 million

Posted June 26, 2019 1:00 am

PROSPECT HEIGHTS - Marcus & Millichap announced it has sold the Thorton's property in Prospect Heights to a private buyer for $2.81 million, according to Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office.

The 4,400-square foot net-leased property at 1600 N. Rand Road in Prospect Heights went from contract to close in 38 days. The new construction property comes with a 20-year corporate lease with rare rental increases in the primary lease term.

Austin Weisenbeck, senior vice president investments, and Sean R. Sharko, senior vice president investments in Marcus & Millichap's Chicago Oak Brook office represented the seller. The private 1031-exchange buyer was represented by Joseph Bono along with Weisenbeck and Sharko.

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