LAKE FOREST, IL-A California investor has acquired a 36,872-sf mixed use building at 1044 N. Western Ave. The sales price was nearly $13.9 million, or $376 per sf.

Thomas Rusthoven, VP with CB Richard Ellis’ private client investment group, represented the seller. The seller was Highview Properties, based here. “It was a value-added deal that had been executed very well,” Rusthoven says. Reportedly, the buyer is Ronald Gersham, with Los Angeles-based Gersham Properties LLC. The buyer acquired the building as part of a 1031 exchange, Rusthoven says. The cap rate was 7%, Rusthoven tells

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