Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a nearly 8-acre land site at 11680 German Church Road in Burr Ridge.
According to Steven D. Weinstock, regional manager of the firm's Oak Brook office, the asset, which was declared surplus property by the village of Burr Ridge, sold for $1.9 million or approximately $237,500 an acre.
Richard Kozarits, an investment specialist in Marcus & Millichap's Oak Brook office, represented the buyer, a private investor, and was the sole broker in the transaction.
The parcel is located about 2 miles east of Interstate 55. Burr Ridge Village Center, a mixed-use lifestyle center whose tenants include TCF Bank, Cooper's Hawk, Banana Republic and Life Time Fitness, is approximately 1.5 miles north of the property.
Located in Cook and DuPage counties, the average household income within a 1-mile radius of the property is $196,723.