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 regional lender.
The 89,357-square-foot shopping center is situated on 7.5 acres and is part of Townline Square Shopping Center. Built in 2019, the property is home to Kids Empire, The Dog Stop and The Picklr Club.