Greenstone Partners successfully completed the sale of The Sherwin-Williams Center, a two-tenant retail investment located on Lincoln Highway in New Lenox, Illinois, a southwest suburb of Chicago. The property includes investment grade tenant, Sherwin Williams, and Don Jose’s, a local Mexican restaurant. The asset sold for $2,575,000.
Positioned just off the intersection of U.S. Route 30 (Lincoln Highway) and Marley Road, the property benefits from strong visibility and solid counts of nearly 30,000 vehicles per day, with surrounding national and regional retailers supporting consistent daily traffic. Located in the heart of Will County, the property also benefits from its favorable real estate tax environment and continued economic growth.
The investor was drawn to the asset for its combination of e-commerce resistant tenancy, long-term Sherwin-Williams occupancy, and ideal suite sizes including a drive-thru configuration. The area has grown by 42% since 2000 and possesses average household incomes exceeding $135,000.
Managing Partner Jason St. John of Greenstone Partners’ represented the seller, a Chicago-based developer, and procured the buyer, a Georgia-based investment group.