Press release
Brian Properties, Inc. Closes Sale of Fully-Leased Retail Property in Downtown Arlington Heights
Representing the seller, a local private investor, Brian Properties facilitated a smooth transaction resulting in a final sale price of 1,100,000 dollars. The sale reflects a 92 percent list-to-sale price ratio and attracted multiple offers, closing within 91 days of listing.
The property comprises a 5,454-square-foot building divided into six fully leased retail units, strategically situated within Arlington Heights' Downtown Business District (B5 Zoning). Originally built in 1926 and extensively renovated in 2004, the asset maintained a history of 100% occupancy, underscoring its strong location fundamentals and tenant desirability. At the time of sale, the property produced a Net Operating Income (NOI) of $54,201 with a Cap Rate of 5 percent.
Nestled in the heart of Arlington Heights-one of Chicago's most sought-after suburban downtowns-the property benefits from high foot traffic, proximity to local restaurants, shops, and cultural attractions, and an average daily traffic count of over 12,800 vehicles.
"This sale highlights the continued strength of suburban downtown investment opportunities and reflects the value of well-positioned retail assets in active, high-demand communities," said Mark R. Meskauskas, CCIM, CPM, President of Brian Properties, Inc. "We are proud to have helped facilitate another successful transaction in Arlington Heights, where we have proudly built a legacy over the past five decades."
Notably, this transaction marks a signif icant milestone for Brian Properties: it is the firm's 75th property sold in Arlington Heights, with a cumulative Arlington Heights transaction volume exceeding 80 million.
About Brian Properties, Inc.
Brian Properties, Inc. is a full-service commercial real estate firm headquartered in Arlington Heights, Illinois. With over 50 years of experience, Brian Properties specializes in asset and property management, brokerage services, project leasing, and investment syndication. Guided by the core values of professionalism, passion, and gratitude, Brian Properties delivers expert solutions and trusted advice to clients throughout the Chicago metropolitan area.Learn more at www.brianproperties.com [https://www.brianproperties.com].
Media Contact
Company Name: Brian Properties
Contact Person: Mark Meskauskas
Email: Send Email [http://www.universalpressrelease.com/?pr=brian-properties-inc-closes-sale-of-fullyleased-retail-property-in-downtown-arlington-heights]
Country: United States
Website: https://www.brianproperties.com/
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