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BMO Bank Property in Evanston Trades Hands
Marcus & Millichap announced the sale of a BMO Bank property in Evanston, Illinois, for $1.675 million.
“We were referred to the trustee of a California-based estate because of our expertise in single-tenant net-lease assets,” said Nicholas Kanich, managing director investments. “We secured an out-of-state purchaser with ties to Illinois who presented strong terms, including a 14-day due diligence period and a seven-day close. The transaction closed on schedule with no price adjustments, reflecting continued demand for well-located retail properties.”
Kanich, investment specialist in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller and procured the buyer. The 3,456-square-foot drive-through bank is located at 2821 Central St. in Evanston’s Central Street retail district. Built in 2004, the property is positioned on a corner lot near national retailers and within two miles of Northwestern University, Old Orchard Mall and Lake Michigan.
