Marcus & Millichap Real Estate Investment Services has sold a 3,975-square-foot mixed-use property located in Chicago. The asset commanded a sales price of $1.2 million.
Stephen Rachman and Kyle Stengle, investment specialists in Marcus & Millichap’s Chicago downtown & O’Hare offices, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor who plans to rebrand the bar, was also secured and represented by Rachman and Stengle.
The asset is located at 3439 N. Halsted in the Lakeview neighborhood of Chicago. The sale of the property includes one retail unit, “Buck’s,” and two floors of apartments. Recent capital improvements include newer windows and a brand new roof, updated porches, some plumbing work, installation of circuit breakers and dry walled/fireproofed basement walls. Additional income for the new owners will be derived from the recent installation of an AT&T wi-fi antenna on the roof.
