Illinois

Lake Zurich, Ill. — Marcus & Millichap has brokered the $7.7 million sale of Lakeview Plaza, a retail strip center totaling 52,400 square feet in the Chicago suburb of Lake Zurich. Built in 1987, the property is home to restaurants, health and fitness tenants, and automotive service users. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a private investment group, and procured the buyer, a family office specializing in owning and operating shopping centers.

Buffalo Grove, Ill. — Quantum Real Estate Advisors Inc. has brokered the $3.9 million sale of a 94,000-square-foot shopping center located in the northwest Chicago suburb of Buffalo Grove. At the time of sale, the property was 51 percent leased to tenants including Aldi, Dollar Tree and AutoZone. Brett Berlin of Quantum represented the buyer, a private developer based in Illinois that plans to redevelop the center. The previous owner lost the property to its lender. 

South Elgin, Ill. — JLL Capital Markets has arranged the sale of South Elgin Commons, a shopping center in South Elgin, roughly 40 miles outside Chicago. Tenants at the property, which was built in 2011 and partially renovated in 2021 and 2024, include Ross Dress for Less, T.J. Maxx, Five Below and Advocate Health Care. The center was fully occupied at the time of sale. L2 Partners acquired the property from PMAT Real Estate Investments. Michael Nieder and Keely Polczynski of JLL represented the seller in the transaction. 

Vernon Hills, Ill. — Marcus & Millichap has brokered the $10.5 million sale of Hawthorn Village Commons, a shopping center located in Vernon Hills, roughly 40 miles outside Chicago. Built in 1981, the property comprises 51,815 square feet. Tenants at the center include Hobby Lobby, Dollar Tree, Panda Express, Wendy’s and Subway. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller in the transaction. Steven Weinstock assisted in closing the sale as the firm’s broker of record in Illinois. 

Springfield, Ill. — The Cooper Commercial Investment Group has arranged the $1.8 million sale of a single-tenant retail property located in Springfield. Starbucks Coffee occupies the building, which is positioned on a site that serves as an outparcel to Walmart Supercenter, Target and Aldi. Bob Havasi and Dan Cooper of Cooper Commercial represented the seller in the transaction. Starbucks has roughly five years remaining on its lease at the property.