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Five-Suite Retail Property in Chicago Trades Hands
Marcus & Millichap has brokered the sale of a five-suite retail property located at 600 S. Dearborn St. in Chicago, Illinois, for $4.1 million.
“The property’s strong tenancy, assumable debt and historic location made it a compelling investment opportunity,” said Mark Krantz, Senior Director of Investments. Krantz and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, procured the buyer, a Washington, D.C.-based private investor. The agents worked with Steve Filippo, a capital markets specialist with Marcus & Millichap Capital Corporation (MMCC).
Steven Weinstock is the firm’s broker of record in Illinois. Located at the intersection of South Dearborn and West Harrison streets in Chicago’s Loop, the property totals 12,132 square feet of ground-floor retail space within the historic Transportation Building.
Fully leased to a mix of five established tenants, including 7-Eleven and Sofi Restaurant, the asset benefits from strong foot traffic, proximity to major transit lines and dense residential and office populations.
