Newmark Grubb Knight Frank Capital Group has announced the $4,415,000 sale of the MB Financial Bank building in Vernon Hills, Illinois. This 6,000-square-foot commercial property is located at 1620 N. Milwaukee Avenue and is 100% NNN leased to MB for 15 years.
“The asset received multiple offers before entering into escrow,” said Michael Bennett, senior managing director of the firm’s downtown Chicago office.
The undisclosed buyer is a private partnership based in both Illinois and California.
About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC’s financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world’s leading financial institutions.
Newmark Grubb Knight Frank and its London-based partner Knight Frank together operate from more than 300 offices in established and emerging property markets on five continents. This major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.