November 7, 2019 Comments (0) Views: 256 Chicago News, Greater Chicagoland

Single-Tenant Goodwill Trades in Glenview 1031 Deal

JLL recently closed the sale of a newly-constructed, 18,000-square-foot, single-tenant retail property that’s triple-net leased to Goodwill in the Chicago suburb of Glenview, IL. JLL’s Nicholas Kanich and Alex Sharrin marketed the property on behalf of the seller, a Chicago-based merchant developer. Best Properties LLC of Florida purchased the asset in a 1031 exchange.

“New construction single-tenant assets remain in high demand in today’s market,” Kanich said. “Retailers are much more methodical about their expansion plans and new locations are hard to come by. The lack of supply translated into strong activity and great execution on this sale.”

Goodwill Industrials of Southeastern Wisconsin Inc., the largest of the more than 165 Goodwill organizations in the world, started store operations this past February with a 10-year lease. Completed in 2019, the building is located at 2740 Old Willow Rd. in Glenview, 22 miles northeast of downtown Chicago.

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