Eco Brite Car Wash 4001, LLC Acquires Retail Property In Hometown, IL For $1.1M

The retail property located at 4001 Southwest Hwy in Hometown, IL has been sold for a price of $1,100,000. The transaction took place on October 25, 2021. The buyer, Eco Brite Car Wash 4001, LLC, acquired the property from the seller, The Fayez Ghosein Real Estate Trust. The property spans a total area of 43,125 square feet, resulting in a price per square foot of $26. Nate Gautsche of Chicago Real Estate Resources, Inc represented the seller, while Joe Padorr of Seneca Real Estate Group LLC represented the buyer in this transaction.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,100,000
• Date: October 25, 2021
• Address: 4001 Southwest Hwy, Hometown, IL
• Market: Hometown, IL
• Buyer: Eco Brite Car Wash 4001, LLC
• Seller: The Fayez Ghosein Real Estate Trust
• Buyer's Representative: Joe Padorr - Seneca Real Estate Group LLC
• Seller's Representative: Nate Gautsche - Chicago Real Estate Resources, Inc
• Square Footage: 43,125
• Price per Square Foot: $26

Additionally, it is worth mentioning that CRER (Chicago Real Estate Resources, Inc) facilitated the sale of 4001 Southwest Hwy and the subsequent purchase of a new location at 5500 W 95th St, Oak Lawn. The combined value of these transactions amounted to $1,680,000. Nate Gautsche, Senior Director at CRER, successfully represented Ghosein European Auto Werks in the sale of 4001 Southwest Hwy and assisted in the relocation process. Despite the challenges posed by COVID-related delays and IDOT approvals, the transactions were completed within the same week, allowing for a smooth relocation and capital gains tax deferral through a 1031 exchange.