"This transaction represents the strong demand for single-tenant net-leased properties in the Chicago real estate market," says Chad M. Firsel, vice president of investment sales at Chicago-based Millennium Properties, Inc. "Investors are tired of managing their commercial properties and the triple-net leases provide for good cash flow and no management headaches."
An unidentified Chicago investor paid all cash for the property, which includes a smaller version of the video store, and closed within 30 days of contract signing. The Blockbuster is located on an outlot near a recently-built Dominick's Finer Foods.
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