SOLD
Marcus & Millichap Brokers $2.7M Retail Sale In Lake Forest
992 South Waukegan Road
Retail
7,100 SF
7,100 SF
Sold 87 days ago
Summary
Sale
ILLINOIS
Retail
7,100 sqft
The Marcus & Millichap brokerage firm has facilitated the sale of a retail property in Lake Forest's market of Waukegan. The property, located at 992 South Waukegan Road, encompasses a 7,100-square-foot space. It houses both the popular Tropical Smoothie Café and Ivy Hall dispensary. Adjacent to a casino and hotel currently under construction, this retail property offers a prime location for business. Notably, the leases of both tenants feature a 10 percent rental increase every five years. The limited liability company that owned the property was represented by Austin Weisenbeck and Sean Sharko from Marcus & Millichap.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $2,700,000
- Square Footage: 7,100 SF
- Price per Square Foot: $380
- Address: 992 South Waukegan Road, Lake Forest
The deal was brokered by Austin Weisenbeck and Sean Sharko from Marcus & Millichap. However, the identity of the buyer remains undisclosed.
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: Austin Weisenbeck & Sean Sharko
DATE: 02/12/2024
ADDRESS: 992 South Waukegan Road
MARKET: Lake Forest
ASSET TYPE: Retail
BROKERS: Austin Weisenbeck & Sean Sharko (@Srshsrko) - Marcus & Millichap (@MarcusMillichapinc)
SALE PRICE: $2,700,000
SF: 7,100 ~ PPSF: $380
NOTE: Marcus & Millichap brokered the $2.7 million sale of a retail property in Waukegan, housing Tropical Smoothie Café and Ivy Hall dispensary. The 7,100-square-foot space, located at 992 S. Waukegan Road, is adjacent to a casino and hotel under construction, with both tenants' leases featuring 10 percent rental increases every five years. The seller, a limited liability company, was represented by Austin Weisenbeck and Sean Sharko, while the buyer remains undisclosed.View on map
Loading...
Address992 South Waukegan Road
Comparables
Reset filters to show results.
Contact
Get in touch with the broker you want