June 29, 2021 – Logan Barnett of Horvath & Tremblay has successfully completed the sale of 26 N Brockway Street in Palatine, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,000,000.
26 N Brockway Street is 100% leased to The Music Room. The single tenant building is comprised of 10,000 square feet on a 0.11-acre parcel. The Music Room has been in business since 1994 and operating at this location since 2005; they have 5 years of term remaining plus one, 5-year renewal option on their modified gross lease. The Music Room is situated at the corner of N Brockway Street and W Slade Street in the heart of downtown Palatine, IL. The property is one block north of W Palatine Road, the area’s primary east/west thoroughfare, one block east of the Town Square, and just three blocks away from the Palatine Metra Station. The Property enjoys outstanding visibility, signage, and frontage along both N Brockway Street and W Slade Street, and is less than ¾-miles from N Hicks Road (US Route 14) the area’s primary commercial corridor. The property’s proximity to the Metra Station provides significant vehicular and pedestrian traffic. The Property is located in the heart of Downtown Palatine where the community goes to shop, dine, and see live music. Since the city’s efforts to revitalize the area at the turn of the century, Downtown Palatine has become a popular place to live, work, and play thanks in part to the addition of a train station, more commercial space, and new residential buildings.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.