January 30, 2020 Comments Off on Retail/MOB in Lakeview Sells to California Buyer Views: 271 Chicago News, North Side

Retail/MOB in Lakeview Sells to California Buyer

Greenstone Partners recently sold 2954 N. Sheffield Ave., a 13,000-square-foot retail and medical office mixed-use building in the North Side’s Lakeview neighborhood. The purchase price was approximately $400 per square foot, or about $5.2 million.

The property is located less than one mile from Wrigley Field, and is across from Advocate Illinois Masonic Medical Center. It’s also directly adjacent to the CTA’s Wellington L Station, which serves 930,000 passengers per year.

The unnamed purchaser, a California investor, was drawn to the investment’s exceptional demographics, according to Greenstone. The average household income within a quarter-mile radius of the property is $135,000, while the average home value is $645,000.

Greenstone said it garnered offers from a national audience for 2954 N. Sheffield. The brokerage represented the seller, a Chicago-based family office, and also procured the buyer.

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