3-tenant retail building near Chicago sold
JLL Capital Markets closed the $2.7M sale of the net-leased retail asset leased to all essential tenants
CHICAGO, October 13, 2020 – JLL Capital Markets announced today that it has closed the $2.7 million sale of a three-tenant, net-leased, 5,000-square-foot retail building occupied by three essential retail tenants in the Chicago-area community of South Holland, Illinois.
JLL marketed the property on behalf of the seller, Glazier Corporation, a local Chicago developer. A private investor out of Southern California purchased the asset.
The property is anchored by Chipotle, a corporate wireless provider and JJ Fish & Chicken. Chipotle has been a tenant since the building was constructed in 2018, and all three tenants have been allowed to stay open during the COVID-19 pandemic due to their essential nature. Situated on 0.85 acres at 549-559 East 162nd St., the building is at a signalized intersection and has excellent visibility to more than 35,000 vehicles per day. The property is also in an area with a dense residential customer base with more than 91,000 residents living within a three-mile radius of the property.
The JLL Capital Markets team representing the seller was led by Managing Director Alex Sharrin, Director Alex Geanakos and Analyst Eric Cline.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit our newsroom.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Glazier Corporation
Glazier Corporation is a Chicago-based boutique real estate development company in business since 1989. Glazier has completed many retail and medical related projects throughout Chicago metropolitan area, developing over 300,000 square feet of commercial space since 1998. Glazier focuses on meeting the needs of specific tenants in “build-to-suit” projects and working with municipalities as development partners to satisfy the needs of multiple interest-holders in each community. Glazier’s team focuses on personal service, delivery of value and reliability of commitments.