Marcus & Millichap Sell Commercial Property In Tinley Park For $5.23M

The sale of a 14,421-square foot, net-leased CVS property at 9551 W 171st St, Tinley Park, IL, 60487 in Tinley Park, Illinois, was facilitated by Marcus & Millichap for a purchase price of $5,225,000. The property, a build-to-suit for CVS with a long-term lease, attracted multiple out-of-state investors and was ultimately sold to an institutional buyer based in Texas at 95 percent of the list price.

Summary of transation details:

• Property Type: Commercial
• Transaction Amount: $5,230,000.00
• Seller's Representative: Matt Emerick (Marcus & Millichap), Sean Sharko (Marcus & Millichap)
• Buyer: Unknown
• SF: 14,421

Matt Emerick, Austin Weisenbeck, and Sean R. Sharko of Marcus & Millichap’s Chicago Oak Brook office had the exclusive listing to market the property on behalf of the seller, a developer. The asset garnered significant interest from investors outside the state, ultimately being acquired by a Texas-based institutional buyer. This successful transaction underscores the competitiveness of the commercial real estate market in the Tinley Park area.