Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Oak Street, a 7,466-square foot net-leased medical property located at 6918 W. Archer Ave. in Chicago, Illinois. After procuring multiple offers, the asset sold for $3,620,000.
Senior Managing Directors Austin Weisenbeck and Sean R. Sharko, along with Associate Daniel Chumbley had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a California based private investor, was secured and represented by Senior Managing Director Jack Hopkins.
The property was newly renovated with a new roof, exterior, and significant interior renovations for Oak Street Health, which signed a new 20-year triple-net lease. Oak Street Health now has 170 locations in 21 states and is expanding into four other states. Earlier this year, CVS acquired Oak Street Health for $10.6 billion.
