Mid-America Real Estate Corporation’s Investment Sales Group brokered the sale of Lincoln Park West, a 37,615-square-foot iconic retail asset in Chicago’s Lincoln Park neighborhood.
The offering featured a durable rent roll as well as the opportunity to significantly add value through the lease up or adaptive reuse of the 19,531 square foot second floor.
Lincoln Park West is anchored by an exceptional tenant roster that includes PNC Bank, Starbucks, RJ Grunts (Lettuce Entertain You), and Lincoln Park Preschool, collectively driving consistent daily traffic and long-term stability given a weighted average lease term of 7.0 years. Within a half-mile radius of Lincoln Park West, residents enjoy average household incomes of $202,400 and median home values of $718,100, reflecting a dense concentration of disposable income.
Mid-America Real Estate Corporation Senior Vice President George Ghattas, Principal Joe Girardi, and Senior Associate Patrick Corrigan served as the exclusive listing brokers on behalf of the seller, LLJ Ventures. The property was acquired by a Private Local Investor.
