Net Lease N Illinois

JLL closes $7M sale of TCF National Bank building in Chicago

JLL closes 7M sale of TCF National Bank building in Chicago,ph1

JLL Capital Markets announced has closed the $7 million sale of a 7,902-square-foot, single-tenant building, triple-net-ground leased to TCF National Bank in Chicago’s Lincoln Park neighborhood. JLL marketed the property on behalf of the seller and procured the Chicago-based buyer, which purchased the asset in a 1031 exchange.

Situated on .43 acres at 1400 W. Fullerton Avenue, the building is on the hard corner and signalized intersection of Fullerton and Southport Avenues, which have a combined traffic count of 24,000 vehicles per day. The building is along an established retail thoroughfare in Lincoln Park, one of Chicago’s most affluent neighborhoods, and two blocks from DePaul University, which has an enrollment of more than 22,400 students. TCF National Bank, a premier Midwest bank with a strong financial profile, has occupied the property since it was built in 2003.

The JLL Net Lease Capital Markets team representing the seller was led by senior vice presidents Alex Sharrin and Nicholas Kanich along with managing director Marc Mandel and director Steve Schrenk.