“Machesney Park Walgreens Undergoes 1031 Deal for Change of Ownership”

"Machesney Park Walgreens Undergoes 1031 Deal for Change of Ownership"

Marcus & Millichap has successfully closed the sale of a prime net-leased Walgreens property in Machesney Park, IL. The transaction was valued at $4.2 million and was facilitated by investment specialists Joe J. Sparano, Dan Yozwiak, and Darpan Patel from Marcus & Millichap’s Columbus and Tampa offices.

The seller of the 14,490-square-foot property was a limited liability company represented by Steven Weinstock as Illinois broker of record.

According to lead agent Joe Sparano, “We were able to secure a local 1031 buyer just seven days after listing the property.” He also noted that with the help of their team and Marcus & Millichap’s platform, they were able to close this deal within 30 days.

Located at 1680 West Lane Rd., this Walgreens store was built in 2008 on a highly visible corner lot with easy access from two major roads. Its strategic location makes it an attractive investment opportunity for buyers looking for stable long-term returns through triple-net lease agreements.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

Share the Post:

Related Posts