Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Starbucks Anchored Retail | Lincoln Park, a 3,845-square foot retail property located in Chicago, IL, according to Steven D. Weinstock, Vice President/ Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $1,750,000.
Austin Weisenbeck, Adrian J. Mendoza, Sean R. Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, and Kyle Stengle, investment specialist in Marcus & Millichap’s Chicago Downtown office had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also secured and represented by Adrian J. Mendoza, Sean R. Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office.
Starbucks Anchored Retail | Lincoln Park is located at 1700 West Diversey Parkway in Chicago, IL. The property is 100 percent occupied with three long-term tenants; Starbucks Coffee, No. 1 Nail Salon and Physicians Plus. The property is located on the northwest, signalized corner of West Diversey Parkway and North Paulina Street. There is a strong traffic count in front of the property of 18,600 vehicles per day. Heavily traveled Ashland Avenue, one of the major north-south corridors through Chicago, is one block east of the property. 1700 West Diversey also benefits from the 76 Diversey CTA bus stop that is directly in front of the property.
