July 23, 2025 – Jack Collins of Horvath & Tremblay has successfully completed the sale of a two tenant retail center leased to AT&T and Wintrust Bank in Wheeling, Illinois. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,364,082.
The two tenant strip center is located at 335 W Dundee Road in Wheeling, Illinois. The Property was constructed in 2019 and consists of a 4,375 square foot building on a 0.39-acre parcel. AT&T recently executed their renewal option demonstrating their commitment to the site and the market. AT&T has 4+ years remaining on their NN lease with one (1), 5-year renewal option. Wintrust Bank has 9+ years remaining on their NN lease with two (2), 5-year renewal options. Webster Bank has been at this location since 2003 and has 3+ years remaining on their lease with one (1), 5-year renewal option. Both tenants are responsible for their pro-rata share of real estate taxes, insurance and common area maintenance, protecting against rising expenses. AT&T’s lease calls for a 12% increase at the start of their renewal option and Wintrust’s lease calls for 3% annual increases throughout the primary lease term and renewal options providing an increase in revenue and a hedge against inflation. The Property is well located on the south side of Dundee Road with 23,775 vehicles passing by the site per day. Additionally, the Property is less than 1-mile east of Elmhurst Road and 1-mile West of Milwaukee Avenue. Elmhurst Road is a north/south artery which averages 17,800 vehicles per day near the center. Milwaukee Avenue runs through Chicago and into the northern suburbs and averages 26,900 vehicles per day near the site. The Property is adjacent to the Wheeling station on Metra’s North Central line, providing convenience for passing motorists commuting to/from the city and surrounding suburbs.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.