Business

Barbakoa restaurant in Downers Grove sold for $2.3M

Posted October 25, 2018 1:00 am

Daily Herald Report

The former Barbakoa bar and restaurant in Downers Grove has been sold for $2.3 million.

Marcus & Millichap, a commercial real estate investment services firm, today announced the sale of a 7,497-square-foot net-leased property located at 1341 Butterfield Road in Downers Grove.

Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office, said the property sold for $2.3 million.

The property is situated across from Finley Square Shopping Center and Butterfield Plaza, which houses many national retailers such as Buy Buy Baby, Michaels, Bed Bath & Beyond, Best Buy. Yorktown Center, a 1.5 million-square-foot shopping center, is also less than a mile away.

Austin Weisenbeck and Sean R. Sharko, investment specialists in Marcus & Millichap's Chicago Oak Brook office, exclusively marketed the property as a value-add opportunity on behalf of the seller, a limited liability company. After procuring many offers, the asset - a fully built-out restaurant with high-end finishes - went from contract to close in 60 days.

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