Quantum Real Estate Advisors completed the sale of a freestanding 2,158-square-foot Wendy’s located at 2401 N. Illinois Rte. 23, Streator, IL. The property sold to a private investor based in Dubuque, IA for $1,574,000.
The seller was a Chicago-based developer that specializes in net lease development. This was a brand new 20-year lease with Wendy’s that delivered in late 2019. SVPs Dan Waszak and Zack Hilgendorf represented the seller and buyer, respectively.
“The buyer was looking to put some excess cash to work, and with limited inventory of long-term net lease deals under $2,000,000 we were able to achieve excellent pricing,” said Hilgendorf.
Waszak added, “We were able to generate multiple offers to drive pricing on this asset for the seller. The robust demand for this asset shows the continued strength in the service-oriented net lease market.”