Marcus & Millichap facilitated the sale of a 38,747-square-foot, single-tenant office property located in Chicago’s West Englewood neighborhood. The asset sold for $3,450,000.
Adrian Mendoza, first vice president, Austin Weisenbeck, senior vice president and Sean R. Sharko, senior vice president and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a fund manager. The buyer, a private investor, was secured by Mendoza, Weisenbeck and Sharko.
Located at 1642 W. 59th Street in Chicago, the property is leased to the Illinois Department of Human Services, one of the state’s largest agencies with more than 13,000 employees. The team overcame multiple hurdles including 1.5 years of remaining lease term. The property received multiple offers and was sold to a Chicago-based private investor.