Marcus & Millichap Arranges $4.4 Million Sale Of Retail Center In Ottawa Illinois

The transaction involved the sale of a retail property located at 2610-2744 Columbus Street in Ottawa, Illinois. The asset spans 4.08 acres and is comprised of a 10-suite, two-building retail center that is shadow-anchored by ALDI. The sale price was $4,400,000, and the deal closed at 99.44% of the list price, achieving the highest price per square foot for an Ottawa shopping center in five years.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $4,400,000
• Address: 2610-2744 Columbus Street
• Market: Ottawa
• Acres: 4.08
• Brokers: Adrian Mendoza, Sean Sharko, & Austin Weisenbeck - Marcus & Millichap
• Buyer: A New York-based 1031 investor
• Seller: A Chicagoland group

Marcus & Millichap facilitated the sale of the retail center, showcasing the expertise of the brokerage team in handling the transaction. The involvement of a 1031 investor highlights the strategic investment interest in the Ottawa retail market.