Marcus & Millichap announced today the sale of a net-leased Starbucks property in Joliet, Illinois, for $2.9 million. Marcus & Millichap Capital Corporation secured the financing.
“New construction Starbucks assets are still a prime, sought-after investment,” said Austin Weisenbeck, senior managing director of investments. “Our team procured multiple offers and ultimately sold to an out-of-state private investor at 97% of list price.”
Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a local developer. Jeff Rowlett, Mark Peltin and Blake Hanlon from the firm’s Milwaukee office procured the buyer.
Michael Hughes, managing director in the firm’s Milwaukee office, secured a five-year loan with a 5.65% fixed interest rate and a 25-year amortization period. The Starbucks property is situated on 1.65 acres at 550 Houbolt Road.
The property was built in 2025 and is secured by a 15-year ground lease. It is positioned near Joliet’s primary retail corridor, anchored by Walmart Supercenter, Menards, ALDI, Chipotle and Panera Bread.
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