"We were able to command a strong price as the availability ofWal-Mart net leases in a dynamic location such as the northwestsuburbs of Chicago are few and far between," says MillenniumProperties, Inc. President Daniel J. Hyman, who brokered the dealalong with Robert Miller of Millco Investments.


The stores, located on 18 acres at the northwest corner of oneof the busiest intersections in the state, opened last year andgenerate net income of $2.3 million. The two buildings total259,302 sf. Although a sales price was not disclosed, it wasoffered for sale at $29.356 million.


Hyman says a Midwest real estate developer sold the property toan individual investor who needed to complete a large Section 1031Exchange.


Earlier this year, the nearby Arlington Oak Pointe property at703 Algonquin Rd. sold for $8.2 million.

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