The triple-net leased property was acquired fromNorthbrook-based Itasca Limited Partnership by private investors ata 9% capitalization rate, says DK Realty Partners, LLC brokerassociate Tyler Neptune. The investors, his clients, had dealtmainly in multifamily properties and needed to find a propertyfollowing a multifamily sale to complete a Section 1031exchange.
"This was an attractive property that continues to be wellmaintained by the tenant and produces excellent cash flow for theinvestors," Neptune says.
Harris Bank of Libertyville financed the purchase of theseven-year-old with a $3.57-million loan, according to propertyrecords.
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