DES PLAINES, IL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale a 145,482-square foot, multi-tenant office building in Des Plaines. The sales price is $11.6 million.
Howard Wiese, (photo at right) senior vice president of investments and senior director of Marcus & Millichap’s National Office and Industrial Properties Group, and Frank Roti, an investment specialist also in the firm’s Chicago office, represented the seller, 999 East Touhy LLC, an entity controlled by the principals of Marc Realty. Marcus & Millichap also represented the buyer, Siete 7 LLC. “This new owner of this investment-grade, five-story office building can achieve rent increases by repositioning the asset,” says Wiese. “The buyer will initially occupy approximately 30,000 square feet in the building, and has plans to expand its space over time.”
Located at 999 East Touhy Ave., the office asset is situated on a 5.97-acre lot with frontage on the Northwest Tollway (Interstate 90) as well as easy access to the Tri-State Tollway (I-294). The property is located just north of the O’Hare International Airport in Chicago and features excellent visibility from I-90 along with signage for a major tenant to utilize.
CONTACT:
Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/
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