Marcus & Millichap recently announced the successful sale of a 7,100-square-foot retail property in Waukegan, Illinois. The property boasts a dispensary and Tropical Smoothie Café and was sold for $2.75 million.
The exclusive listing for this asset was held by Senior Managing Director Austin Weisenbeck and investment specialist Sean Sharko from Marcus & Millichap’s Chicago Oak Brook office on behalf of the seller, a limited liability company.
Located at 992 S. Waukegan Road as an outlot to an upscale casino and hotel currently under construction with plans to open in 2025, this retail property offers attractive lease terms with rental increases every five years. It is also conveniently situated near other major retailers such as Walmart Supercenter.
This recent transaction highlights the strong demand for properties in prime locations like Waukegan among both investors and tenants alike.
