CRYSTAL LAKE, IL-After being retrofitted to accommodate a Sportmart outlet, a former Menard’s store in this far northwest suburb has been sold. Although the purchase price of the 52,599-sf building was not disclosed, the market value is approximately $2.5 million, according to the most recent assessment by McHenry County.

Besides a makeover of the home improvement outlet, the northwest corner of Northwest Highway and Route 31 has seen recent development of restaurants on outlots.

Chicago-based Syndicated Equities, which specializes in net-leased properties and 1031 exchanges, represented Cog Circle LLC in its purchase of the property at 800 Cog Circle. Edgemark Commercial Real Estate LLC senior vice president Jeff Kowal represented the former owner, Sports Crystal Lake LLC.

“This transaction indicates the continuing strong demand we are seeing among property investors for long-term net-leased retail properties,” says Kowal in a statement. “As the stock market continues to be volatile, we are continuing to see a large number of investors interested in well-located, high-quality retail properties.”

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