Marcus & Millichap has successfully closed the sale of a retail strip property in Normal, Illinois. The two-suite property is currently leased to popular restaurants Chipotle and Blaze Pizza and was sold for $3 million.
According to Zack House, senior vice president investments at Marcus & Millichap, the buyer intends to hold onto this property as a long-term investment. He credits their team’s local market knowledge, asset expertise, and national platform for making this transaction possible.
The exclusive listing for marketing the 5,311-square-foot property located at 1601 E. College Ave., with visibility to over 55,000 vehicles daily was held by investment specialists Mark Ruble and Chris Lind from Marcus & Millichap’s Phoenix office on behalf of the seller – a Delaware limited liability company. Steven Weinstock serves as Marcus & Millichap’s broker of record in Illinois.
Built in 2016 on an expansive lot measuring approximately .83 acres ,the prime location is surrounded by major retailers and only two miles away from Illinois State University.
