Interra Arranges $6M Sale of Chicago Nursing Facility
- Sep 11, 2018
Interra Realty has arranged a $6 million sale of a skilled nursing facility in Chicago’s West Loop, representing both the seller, Symphony Pan, and the buyer, JK Equities, in the deal. The transaction was a sale leaseback.
The four-story building is located at 1400 W. Monroe Ave., within walking distance of Fulton Market. The buyer plans to repurpose the property to capitalize on its location. The facility sits amid a variety of new office, hospitality and multifamily properties and across the street from Skinner Park. It can be easily reached via interstates 90 and 290 and is a few blocks away from one of the busiest commuter stations in the nation, on West Madison Street.
“The deal at 1400 W. Monroe Ave. speaks to developers’ continued desire for opportunities in this flourishing neighborhood. Our buyer was attracted to this area due to its strong growth factors, including proximity to a great number of new commercial developments, as well as the building’s specific location overlooking Skinner Park and Whitney Young High School, one of the highest-ranking selective-enrollment high schools in Chicago,” said Interra Co-Founder & Managing Principal David Goss in a prepared statement.
Goss, together with Director Lucas Fryman, worked on behalf of the buyer. Another team of Co-Founder & Managing Principal Jon Morgan and Director Colin O’Malley acted as the seller’s brokers.
Image courtesy of Interra Realty