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January 15, 2020 Comments Off on Lincoln Park Bank Branch Trades in 1031 Exchange Views: 657 Chicago News, North Side

Lincoln Park Bank Branch Trades in 1031 Exchange

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JLL Capital Markets closed the $7-million sale of a 7,902-square-foot, single-tenant building triple net ground leased to TCF National Bank in Lincoln Park. JLL marketed the property on behalf of the seller and procured the Chicago-based buyer, which purchased the asset in a 1031 exchange.

Located at 1400 W. Fullerton Ave., the building is on the hard corner and signalized intersection of Fullerton and Southport avenues, which have a combined traffic count of 24,000 vehicles per day. The building is along an established retail thoroughfare in Lincoln Park, and two blocks from DePaul University. TCF National Bank has occupied the property since it was built in 2003.

The JLL Net Lease Capital Markets team representing the seller was led by SVPs Alex Sharrin and Nicholas Kanich, along with managing director Marc Mandel and director Steve Schrenk.

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