2 Fully Leased Suburban Retail Centers Sold by Chet Evans and Brad Thompson

Millennium Properties recently brokered the sale of two fully leased suburban retail centers located in Barrington and Elmhurst. Both neighborhood centers have prime locations in the heart of each suburb’s downtown area.

Chet Evans sold the 9,800 square foot center at 121-141 S Northwest Hwy. in Barrington in an off-market transaction. Located just off the intersection of Lake Cook Rd. and Northwest Hwy., this two building retail center is fully leased to five tenants including JC Licht Benjamin Moore and Farmers Insurance. The building is adjacent to a CVS location and close to the Barrington Metra station.

Adjacent to the Elmhurst Metra station, the property at 110-112 W. Park Ave. was sold by Brad Thompson. The 9,667 square foot building features a mix of retail, restaurant and office space. This highly visible property is leased to Lou Malnati’s, an architecture firm and a salon. The new owner was attracted to the property due to its strong in-place income, key location in downtown Elmhurst.

“Both of these properties feature a strong location within each suburb as well as a desirable mix of local businesses and well-known brands,” said Chet Evans, vice president of Millennium Properties. “Many investors were interested in these properties due to their strong in place income and potential to add value in the future.”

“Retail properties in core locations with strong demographics and potential to add value are still able to command a premium,” added Brad Thompson, vice president of Millennium Properties. “Although much of the retail sector’s news focuses on the impact of internet sales, most transactions are still conducted in a store.”