Press Releases
Marcus & Millichap Brokers $5.85M Sale and Financing of Med-tail Strip in Tinley Park, Illinois
March 13, 2025
TINLEY PARK, Ill., March 13, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 7301 183rd St., an 11-suite retail strip property located in Tinley Park, Illinois. The property sold for $5.85 million. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, arranged the financing.
“This sale was especially meaningful, as we helped transition a legacy family asset to a new owner entering the Midwest market for the first time,” said Adrian Mendoza, first vice president investments. “The property’s strong cash flow and prime location in a pro-business market made it an attractive investment. With professional management now in place and plans to lease the remaining vacancy, the buyer is well-positioned for long-term success.”
Adrian Mendoza, Sean Sharko and Austin Weinsenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a family partnership, and procured the buyer, a private California-based investor. Dean Giannakopoulos, senior managing director in MMCC’s Chicago Downtown office secured $4.1 million in financing.
The property is situated on 3.55 acres at 7301 183rd St., surrounded by a strong economic base, with over 70,000 residents and an average household income exceeding $111,000 within a three-mile radius. The property features a diverse tenant mix of food, service, and medical businesses. Key tenants include Buffalo Wild Wings, which recently signed a 7-year lease extension and invested $600,000 in renovations, and Pop’s Italian Beef, which has been operating for 16 years. The property spans 3.55 acres with 350 feet of frontage and easy access from Interstate 80.
“This sale was especially meaningful, as we helped transition a legacy family asset to a new owner entering the Midwest market for the first time,” said Adrian Mendoza, first vice president investments. “The property’s strong cash flow and prime location in a pro-business market made it an attractive investment. With professional management now in place and plans to lease the remaining vacancy, the buyer is well-positioned for long-term success.”
Adrian Mendoza, Sean Sharko and Austin Weinsenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a family partnership, and procured the buyer, a private California-based investor. Dean Giannakopoulos, senior managing director in MMCC’s Chicago Downtown office secured $4.1 million in financing.
The property is situated on 3.55 acres at 7301 183rd St., surrounded by a strong economic base, with over 70,000 residents and an average household income exceeding $111,000 within a three-mile radius. The property features a diverse tenant mix of food, service, and medical businesses. Key tenants include Buffalo Wild Wings, which recently signed a 7-year lease extension and invested $600,000 in renovations, and Pop’s Italian Beef, which has been operating for 16 years. The property spans 3.55 acres with 350 feet of frontage and easy access from Interstate 80.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
