October 1, 2020
Marcus & Millichap’s Sharko|Weisenbeck Team arranged the sale of an Advance Auto Parts store in West Englewood on Chicago’s Southwest side. The property sold for $1,800,000.
SVPs Austin Weisenbeck and Sean R. Sharko in Marcus & Millichap’s Chicago Oak Brook office marketed the property on behalf of the seller, a developer.
The buyer, a private investor, was secured and represented by Fabio Sangiorgi and Rachna Gandhi of Marcus & Millichap’s Palo Alto office, CA. Financing was obtained by David Campbell, SVP capital markets, Marcus & Millichap Capital Corporation.
Advance Auto Parts is located at 6714 S. Western Ave. The property was sold to an out-of-state 1031 buyer and closed at 98% of the list price. The corporately guaranteed tenant recently executed a 10-year lease extension with a corporate guarantee.
For comments, questions or concerns, please contact Paul Bubny