CRE Midwest

Acadia Realty Trust acquires trophy Lincoln Park property

Acadia Realty Trust has acquired 865 W. North Ave., a trophy asset located in the Lincoln Park neighborhood of Chicago. The investment sold for $14.75 million. The seller of the asset was Tri-equities LLC based in Elk Grove Village.

Acadia Realty Trust has acquired 865 W. North Ave., a trophy asset located in the Lincoln Park neighborhood of Chicago.  The investment sold for $14.75 million.  The seller of the asset was Tri-equities LLC based in Elk Grove Village.

Located in the heart of Lincoln Park, 865 W. North Ave. consists of two stories comprised of 16,000 square feet at the southeast corner of North Avenue and Fremont Street.  The property is leased entirely by Forever 21 and includes on-site customer parking.

Stephen Lieberman of Marcus & Millichap represented Acadia Realty Trust in the transaction.  Brad Teitelbaum and Peter Block of Colliers International represented the seller.