Net Lease N Illinois

Net-leased Bucktown property sells for $850,000

Net-leased Bucktown property sells for 850,000,ph1

Marcus & Millichap announced the sale of a 1,400-square-foot, net-leased commercial condo property located in Chicago’s Bucktown neighborhood, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The buyer was selected six days after listing the asset and sold at 96.15 percent of list price for $850,000.

Brewster Hague, a senior associate, 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 also represented the 1031-exchange buyer.

The property is located at 1909 W. North Avenue, less than two blocks from the Damen, North and Milwaukee intersection and a short walk to the CTA Damen Blue line. The current tenant has a long-term operating history at this location since 2008.