The asset involved in the transaction is a 15,577-square foot retail center located at 6440 Grand Ave, Gurnee, IL, 60031. The property was sold to an out-of-state buyer for $10,675,000. Robert Bhat of Marcus & Millichap arranged a $6,900,000 non-recourse loan for the property, which is situated on an out-lot parcel near Gurnee Mills Mall, a retail hub with over 1.9 million square feet of retail space.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $10,675,000.00
• Address: 6440 Grand Ave, Gurnee, IL, 60031
• Market: Gurnee
• Borrower's Rep: Robert Bhat(Marcus & Millichap)
• Lender: Unknown Correspondent life insurance company
• Loan Amount: $6,900,000.00

Key individuals and companies involved in the deal include Austin Weisenbeck and Sean R. Sharko from Marcus & Millichap's Chicago Oak Brook office, who exclusively marketed the property on behalf of the seller. Additionally, Robert Bhat, working with Marcus & Millichap’s Capital Corporation, was instrumental in securing the financing for the property through a correspondent life insurance company.