July 10, 2020
Marcus & Millichap arranged the sale of a single-tenant office building on Chicago’s Southwest Side leased to the Illinois Department of Human Services. The 38,747-square-foot property sold for $3,450,000.
A Chicago Oak Brook-based team, of first VP Adrian Mendoza and SVPs Austin Wiesenbeck and Sean R. Sharko marketed the property on behalf of the seller, a fund manager. The buyer, a private investor, was secured by Mendoza, Weisenbeck and Sharko.
Illinois Department of Human Services is located at 1642 W. 59th St. in the West Englewood neighborhood, and is one of Illinois’ largest agencies with more than 13,000 employees. The Marcus & Millichap team overcame multiple hurdles, including 1.5 years of remaining lease term. The property received multiple offers and was sold to a Chicago-based private investor.
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