Retail N Illinois

Multi-tenant retail property in Chicago's Austin neighborhood sells for $6.1M

Multi-tenant retail property in Chicago's Austin neighborhood sells for 6.1M,ph1

Marcus & Millichap completed the sale of Roosevelt Plaza, a 27,150-square foot retail property located in Chicago, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. After multiple offers, the asset sold to a Chicago-based private investor for $6,100,000.

Adrian Mendoza, first vice president investments, Austin Weisenbeck, senior vice president investments, and Sean R. Sharko, senior vice president investments, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller and represented the buyer.

Roosevelt Plaza is located at 5630 W. Roosevelt Road in the city’s Austin neighborhood and is 100 percent occupied by a diverse mix of national and local tenants. The property offers a high barrier to entry with limited land for new development.