ELMHURST, Illinois – (RealEstateRama) — Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, arranged the sale of a new single-tenant net-lease investment occupied by LA Fitness in an off-market transaction. The property is located in the Chicago metro area in Elmhurst, Illinois.
Hanley Investment Group Associate Austin Blodgett and Executive Vice President Eric Wohl represented the seller on this transaction. The seller was a development company based in the Chicago area and the buyer, which represented themselves, was a publicly-traded REIT. The purchase price could not be disclosed.
Completed in late 2016, the new 37,000-square-foot single-tenant building is situated on 4.8 acres at 620 North York Street in Elmhurst, Illinois, adjacent the I-290/Dwight D. Eisenhower Expressway on/off-ramp in DuPage County. LA Fitness just executed a brand new 15-year primary lease term with a number of options.
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