Jul
24
Chicago PNC Bank Changes Hands for $4 Million
ByThe buyer, a Canadian investment group, paid almost full price for the 7,500-square foot asset located in North Side Chicago. Marcus & Millichap negotiated the transaction on behalf of both parties involved.
Marcus & Millichap closed a 7,500-square-foot retail property deal in Norwood Park, Chicago. The asset is net-leased by PNC Bank. The buyer, a Canadian investment group, paid $4.1 million for the property. Two teams of brokers with Marcus & Millichap represented both the buyer and the seller.
EASILY ACCESSIBLE LOCATION
The building sits on a 0.6-acre lot located at 6401 N. Harlem Ave., facing the three-way intersection of Harlem Avenue, Devon Avenue and Northwest Highway. Being part of a dense residential area, the location boasts a traffic count of more than 55,000 vehicles daily. The bank is surrounded by several apartment communities and has 245 feet of prime Harlem Avenue frontage…
