Marcus & Millichap recently completed the sale of 2335 S. Michigan Ave., a fully leased medical office property in Chicago, Illinois. The property was sold for $5.1 million and is currently occupied by Shifrin Plastic Surgery Center.
According to Forest Bender, first vice president of investments at Marcus & Millichap, and associate Zach Rogers, this transaction highlights the strong demand for Midwest commercial real estate investments from out-of-state capital. They also credit their platform for helping both buyers and sellers achieve their long-term investment goals.
The exclusive listing to market the property was held by investment specialists Joseph DiSalvo and Sam Curtis from Marcus & Millichap’s Indianapolis office along with Bender and Rogers. They were able to secure a buyer for the seller in this transaction which was brokered by Steven Weinstock as Marcus & Millichap’s broker of record in Illinois.
Built in 1906 but renovated in 2018, this three-story facility is located on prime downtown Chicago real estate along Michigan Avenue which connects cultural and business hubs. It boasts a total area of 12,000 square feet that is fully leased under an absolute-net lease signed at closing with a plastic surgeon who will occupy it for another eleven years.
Don’t miss your chance to attend Connect Industrial Midwest on March 5th where Michael Brennan will receive Connect CRE’s Lifetime Achievement Award! He will also participate in an exclusive keynote interview alongside Kevin Brennan from Brennan Investment Group at Joe’s Live in Rosemont IL.
