Marcus & Millichap announced the sale of a LA Fitness-anchored, four-suite retail property in Mundelein, Illinois. The property sold for $13.976 millkion. Marcus & Millichap Capital Corporation, a subsidiary of Marcus & Millichap, arranged $9.78 million in acquisition financing.

“The Sharko | Weisenbeck | Mendoza Group was the second broker to list this deal, speaking volumes for our proprietary database and Marcus’ platform,” said Austin Weisenbeck, senior managing director. Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, an experienced real estate investor/developer in the Chicagoland area. The Sharko | Weisenbeck | Mendoza Group also procured the out-of-state buyer who was in a 1031 exchange. Dean Giannakopoulos, senior managing director, also based in the firm’s Chicago Oak Brook office, secured the financing.

The 89,357-square-foot shopping center is situated on 7.48 acres at 1555 S. Lake St. Built in 2019, the property is anchored by LA Fitness, with Kids Empire, The Dog Stop and The Picklr Club among its other tenants.

The post Marcus & Millichap Arranges $14M Sale, Financing of Illinois LA Fitness-Anchored Retail Property appeared first on Connect CRE.

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