Chicago PNC Bank Changes Hands for $4 Million

The 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.

6401 N. Harlem Ave., Chicago
6401 N. Harlem Ave., Chicago

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.

The team of brokers representing the seller was made up of Vice Presidents Austin Weisenbeck and Sean Sharko together with Senior Associate Adrian Mendoza. The same team recently closed on Ashland Wellington Plaza, a retail center in Chicago’s Lakeview neighborhood. The buyer was represented by Senior Associate Joseph Sigal.

Image via Google Street View