Net Lease N Illinois

Marcus & Millichap arranges sale of 4,000-SF net-leased property

Marcus & Millichap arranges sale of 4,000-SF net-leased property,ph1

Marcus & Millichap closed the sale of a 4,000-square foot, net-leased Signature Bank located in Chicago, according to David G. Bradley, regional manager of the firm’s Chicago Downtown office. The asset sold for $2,400,000.

Mitchell Kiven, a senior associate, and Bennet Kamps, an associate, in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a prominent developer based in Chicago, and also secured the buyer, a private investor based in Omaha, Nebraska.

This Signature Bank is located at 7292 W. Devon Avenue in Chicago and boasts over $550 million in deposits. The building was constructed in 2017 and features high-end masonry construction as well as a double drive-through. There were multiple written offers within two days of marketing the property, following nearly two years on the market with a previous local brokerage.