Marcus & Millichap Brokers $2 Million Sale of Retail Property in McHenry, IL
Marcus & Millichap has successfully brokered the sale of a retail property in McHenry, IL for $2 million.
Marcus & Millichap, a leading commercial real estate brokerage firm, has recently closed a significant deal in McHenry, Illinois. The firm successfully brokered the sale of a retail property located at 1800 North Richmond Road for a total price of $2 million. The property, which spans 3,100 square feet, was sold on January 1, 1970.
The retail property is situated in a prime location in McHenry, a suburban city located in the northern part of Illinois. McHenry is known for its strong retail market, with a diverse mix of local and national retailers. The property is surrounded by other retail establishments, including restaurants, shops, and entertainment venues.
The buyer of the property is not disclosed, but it is clear that they saw the potential in this retail property. With its prime location and strong retail market, the property offers a great opportunity for the buyer to generate steady rental income and potentially increase the property’s value in the future.
On the other side of the deal, the seller of the property is also not disclosed. However, it can be assumed that they were motivated to sell the property at a price of $2 million, which is a significant amount for a 3,100 square foot retail property. The seller may have been looking to cash in on the strong retail market in McHenry and take advantage of the high demand for retail properties in the area.
Marcus & Millichap, the brokerage firm that facilitated the deal, is well-known for its expertise in the commercial real estate market. The firm has a strong track record of successfully closing deals and providing excellent service to its clients. With their extensive network and market knowledge, Marcus & Millichap was able to identify the buyer and seller for this retail property and negotiate a favorable deal for both parties.
Overall, the $2 million sale of the retail property in McHenry, IL is a testament to the strength of the local retail market and the expertise of Marcus & Millichap. The buyer and seller of the property have both made a smart investment decision, and with the help of Marcus & Millichap, they are well-positioned to capitalize on the opportunities in the McHenry retail market.