OAK PARK, IL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of the Eleven 20 Club (top right photo), a 63,256-square foot retail center in Oak Park.
The sales price of $15.8 million represents $250 per square foot.
Evan Halkias, a senior associate in the Chicago Downtown office of Marcus & Millichap, and Michael Marks, a senior associate also in the firm’s Chicago Downtown office, represented the seller and the buyer in thi
s transaction.“Eleven 20 Club was an excellent opportunity for the investor to acquire a newly constructed retail center with prominent tenants in a high-density, heavily trafficked area in Chicago’s prominent suburb of Oak Park,” says Halkias.
Located at 1120 Lake St., Eleven 20 Club features retail tenants Bar Louie and Lane Bryant on the first floor and Fitness Formula Gym, which occupies the second and third floors.
All leases for the retail tenants are triple-net with rent increases throughout the terms of their leases. Directly above the Eleven 20 Club are 44 condominium units that commanded between $300,000 and $1 million.
Completed in 2007, the Eleven 20 Club is surrounded by other national retaile
rs, including Starbucks, Chipotle, Borders Books, Gap, Panera Bread Co. and Talbot’s.Press Contact: Stacey Corso
Communications Department
(925) 953-1716
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