Retail Midwest

Marcus & Millichap arrange $4.58 million sale of net-leased Chicago property

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Marcus & Millichap has announced the sale of a MB Financial Bank ground lease, a 8,100-square-foot net-leased property located in Chicago, Illinois, according to Steven D. Weinstock, First Vice President / Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $7,575,000.

Marcus & Millichap has announced the sale of a MB Financial Bank ground lease, a 8,100-square-foot net-leased property located in Chicago, Illinois, according to Steven D. Weinstock, First Vice President / Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $7,575,000.

Sean R. Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.  The buyer, a limited liability company, was secured and represented by Steven J. Siegel, an investment specialist in Marcus & Millichap’s Manhattan office.

MB Financial Bank is located at 6422 West Archer Avenue in Chicago, IL.  The subject property is located in the Garfield Ridge neighborhood of Chicago. It has about 267 feet of frontage on Archer Avenue, and stretches for the entire block between Nagle and Narragansett. Narragansett has a four-way traffic light accessible to the site. Garfield Ridge is located next to Chicago’s Midway International Airport and is home to many of Chicago’s police and fire fighters.