Retail N Illinois

Marcus & Millichap arranges $4M sale of Chicago retail property

Marcus & Millichap arranges 4M sale of Chicago retail property,ph1

Marcus & Millichap closed the sale of Park Shops, a grocery-anchored center with 47,069 square feet of retail space located at 6400 W. 63rd Street in Chicago. The grocer, Fair Share Super Market, had been operating at the location for 27 years and recently extended for 10 years. The property was under contract within 14 days of going to market and closed at $3,934,999—97 percent of list price.

Adrian Mendoza, first vice president, Austin Weisenbeck and Sean R. Sharko, senior vice presidents and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a developer. After multiple offers, they secured the Chicago-based buyer, a private investor, in an all-cash transaction.