Antioch Retail Center and Industrial Building Sold for $3.4M in Combined Deals
Two key properties in Antioch, Illinois—a retail center and an industrial building—were recently sold for a combined total of $3.4 million, marking notable transactions in the local commercial real estate market. The first property, Depot Street Station, a 29,000-square-foot retail center located at 311 W. Depot St., was sold to Pacific Plaza LLC for $1.9 million.The retail center also includes a 5,000-square-foot warehouse building behind it, enhancing its value and versatility for tenants and potential investors.
The buyer was partly drawn to the property due to its favorable tax status. Paul Butera explained that the property’s zoning as industrial results in lower taxes compared to other retail centers in Lake County. This aspect and a relatively stabilized tenant base provided Pacific Plaza LLC with an opportunity for high-yield returns. The combination of lower tax burdens and strong occupancy makes Depot Street Station a compelling investment for those seeking a stable income in a competitive market.
The second property involved in the transactions is a 40,000-square-foot industrial building located at 905 Anita Ave. It was sold to Homco Metals LLC for $1.5 million. Peter Doughty of Marcus & Millichap, who represented the seller, highlighted the high-yield potential of the building as a key attraction for the buyer. “One trend I am seeing in this submarket is high yields with a strong labor force,” Doughty noted, emphasizing how Antioch’s local labor market and industrial opportunities continue to attract attention from investors looking for long-term returns.
The sale of these properties highlights a few key trends within Antioch’s commercial real estate market. For one, properties that combine stable occupancy and advantageous tax positioning, such as Depot Street Station, remain in demand. Buyers seeking high-yield, stabilized investments find properties with these attributes particularly attractive. Additionally, Antioch’s industrial market continues to demonstrate potential for growth, driven by demand for flexible industrial spaces and strong local labor resources.
These transactions are a testament to the diversity and resilience of Antioch’s commercial real estate offerings. As the market evolves, commercial real estate agents in Antioch can look to these deals as examples of how strategic property attributes—such as tax advantages and high-yield potential—can drive interest and close sales, even in a competitive landscape. For the sellers, the decision to part with both properties marks the conclusion of an investment chapter and highlights how shifting market dynamics and personal transitions can shape property ownership decisions.
Overall, the sales of Depot Street Station and the 905 Anita Ave. industrial building reflect the strength of Antioch’s commercial real estate market, driven by demand for well-located, high-yield properties. This trend offers opportunities for both buyers and agents to capitalize on a market characterized by diverse assets, stable yields, and a strong regional labor force.
