Illinois

Chicago — Mid-America Real Estate Corp. has negotiated the sale of Lincoln Park West, a 37,615-square-foot retail property located in Chicago’s Lincoln Park neighborhood. The property offers value-add potential through the lease-up or adaptive reuse of the 19,531-square-foot second floor. Tenants include PNC Bank, Starbucks Coffee, RJ Grunts (Lettuce Entertain You) and Lincoln Park Preschool. The weighted average lease term is seven years. George Ghattas, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, LLJ Ventures. A private local investor was the buyer.

Schiller Park, Ill. — Marcus & Millichap has arranged the $3.5 million sale of a six-suite retail strip property located in Schiller Park near O’Hare International Airport and the Fashion Outlets of Chicago. The 23,000-square-foot property is situated on nearly 1.4 acres and is occupied by a mix of tenants including Shoeless Joe’s Ale House & Grille, Enterprise Rent-A-Car and Axeclusive Axe Throwing & VR Lounge. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap marketed the property on behalf of the seller, a partnership of two local investors.

Mundelein, Ill. — Marcus & Millichap has arranged the nearly $14 million sale and financing of an LA Fitness-anchored, four-suite retail property in Mundelein, roughly 35 miles northwest of downtown Chicago. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, an experienced real estate investor and developer in Chicagoland. The Sharko | Weisenbeck | Mendoza Group also procured the out-of-state buyer, which completed a 1031 exchange. Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged $9.8 million in acquisition financing through a …

McHenry, Ill. — Marcus & Millichap has negotiated the $2.6 million sale of Diamond Plaza, a 7,035-square-foot retail center located in McHenry, roughly 50 miles northwest of Chicago. Built in 2009, the three-tenant property was fully occupied by Verizon, Biggby Coffee and Lacey’s Place at the time of sale. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a family trust, and procured the buyer, a private investment group. 

Geneva, Ill. — Quantum Real Estate has brokered the sale of 1310 Commons Drive, an 88,000-square-foot retail center located in Geneva, about 40 miles west of Chicago. The property consists of four multi-tenant buildings, as well as two single-tenant buildings, and features a mix of tenants including First Watch, California Pizza Kitchen, Sleep Number, Five Guys and Jamba Juice, among others. The property was roughly 98 percent leased at the time of sale. The buyer was a global real estate investment manager, and the seller was an investment fund based …

Chicago — Curbline Properties has acquired Clybourn Center, a 33,140-square-foot unanchored retail strip center located in the Lincoln Park neighborhood of Chicago. Clybourn Center was 91.2 percent leased at the time of sale to tenants including Physicians’ Immediate Care, Premier Allergy and Metro Infusion. The property also features 86 parking spaces. Michael Nieder and Brian Page of JLL represented the seller in the transaction. Steve Schwartz, also of JLL, handles leasing efforts at the property.

Chicago — JLL Capital Markets and GA Group Real Estate have negotiated the $75 million sale-leaseback for a 46-property Family Dollar retail portfolio across 19 states. The properties were acquired by an institutional real estate investor. JLL and GA Group Real Estate represented the seller, FD Retail Properties LLC, in the transaction.