Local Investor Acquires Fully Leased Retail Building In Arlington Heights For $1.1M

A retail building located at 112, 114, 116 North Evergreen Avenue, and 15, 17 & 19 East Miner Street in Arlington Heights has been sold for a total of $1,100,000. The property encompasses 5,454 square feet and was sold at a price per square foot of $202. The asset is noted for being fully leased and was built in 1926, with renovations completed in 2004. The sale transpired at a capitalization rate of 5% and reported a net operating income of $54,201. The transaction completed 91 days following its listing.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,100,000
• Square Footage: 5,454
• Price per Square Foot: $202
• Cap Rate: 5%
• Net Operating Income: $54,201
• Listing Duration: 91 days

Mark Meskauskas from Brian Properties represented the local private investor in this transaction, facilitating the sale of the property. Brian Properties played a key role in brokering the deal, contributing to the successful closure of the sale in Arlington Heights.