ELGIN, Ill., November 3, 2016 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Stor-More, a self storage facility located in Elgin, IL, according to Steven D. Weinstock, First Vice President/Regional Manager/Managing Broker of the firm's Chicago Oak Brook office
Sean M. Delaney, vice president investments, and Michael A. Mele, senior vice president investments, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also secured and represented by Sean M. Delaney and Michael A. Mele.
Stor-More is located at 796 Bluff City Boulevard in Elgin, Illinois. The subject property is a five-building facility that contains 22,800 net-rentable square feet. There are currently 89 non-climate controlled storage units and commercial units, and the units range in size from 25 to 2,200 square feet. Elgin is a component of the Chicagoland MSA and boasts an average household income that is nearly 15 percent higher than the national average.