Marcus & Millichap, a leading commercial real estate investment firm, recently facilitated the sale of Hanover Square in Hanover Park, Illinois. The 111,828-square-foot multi-tenant retail property was sold for $7.25 million in an all-cash transaction below replacement cost.
The property was marketed by Senior Managing Directors Austin Weisenbeck and Sean Sharko from Marcus & Millichap’s Chicago Oak Brook office on behalf of the seller – a government agency. Located at 6606 Barrington Road on a signalized hard-corner intersection with high traffic volume of over 25,400 vehicles per day, Hanover Square offers a diverse mix of national and local tenants.
The center features two outlots anchored by a full-service grocer and popular gymnastics training center. Many tenants have been operating at this location for over ten years with some having more than three decades of history at the site.
