Baum Realty Mediates Sale of Chase Bank Building
- May 05, 2017
The Baum Realty Group of Chicago has closed the sale of a 4,195-square-foot property at 7180 W. Grand Ave. in Elmwood Park, Ill..
A Baum Investment Sales team led by Patrick Forkin and Brad Teitelbaum, vice presidents, represented the seller, a private West Coast investor, who obtained approximately $4.5 million as a result of the transaction. The buyer was an institutional investor. According to real estate data provider PropertyShark, the seller bought the place for $3.3 million in 2007.
The property operates as a Chase Bank location in a highly trafficked area of metro Chicago and features a large parking lot, as well as four drive-thru lanes. Teitelbaum said in a prepared statement that one of the asset’s greatest advantages was its location, which he described to be very desirable, especially for a bank branch.
Chase Bank currently holds a triple net lease at 7180 W. Grand Ave.
Image courtesy of Baum Realty Group