Greenstone Partners sold a multi-tenant net-lease retail center located at 20910-30 S. La Grange Rd. in the Will County community of Frankfort, IL. The Class-A, 5,395 square foot property is fully leased to Potbelly Sandwich Shop, CD One Price Cleaners, and Verizon. The transaction closed at $2,975,000 or $551 per square foot.
The property is situated near the intersection of South La Grange Road and Lincoln Highway, which experiences 56,800 vehicles per day. Surrounding national retail tenants include Mariano’s across the street, Walgreens, Jewel Osco, CVS, Starbucks, Home Depot, McDonald’s and ALDI, among others. Frankfort possesses a strong demographic profile including a one-mile average household income of $145,000 and a five-mile population exceeding 100,000.
Greenstone Partners navigated through a loan assumption process and exclusively represented the seller, an Illinois-based developer. The buyer was represented by an outside broker, Crossroads Partners.