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Marcus & Millichap Closes Sale of Lincoln Park Timber Loft Offices

Marcus & Millichap arranged the sale of 2001 N. Clybourn Ave,, a 24,314-square-foot office property in Lincoln Park. The asset sold for $6,700,000. 

Nicholas Kanich, a first VP of investments in the Net Lease Group at Marcus & Millichap’s Chicago Downtown office, represented the Delaware-based buyer, a repeat client. The seller of the property, originally bult in 1895, wasn’t disclosed. 

“The multi-tenant, Class-A timber loft office asset was a strategic purchase for the buyer due to its advantageous Lincoln Park location, strong tenant mix and value-add components,” said Kanich. “The transaction closed quickly with no issues during escrow.”  

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).