Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 2525 North Clark Street, a mixed-use property in Chicago’s Lincoln Park neighborhood.
“This is an irreplaceable Lincoln Park corner, anchored by Starbucks, in one of the strongest retail corridors on Chicago’s North Side,” said Kyle Stengle, senior managing director investments. “With strong residential leasing demand, walkability to Lake Michigan and Lincoln Park, and a consistent track record of performance, the asset drew significant interest.”
Stengle, investment specialist in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller. Mitchell Kiven, also from the firm’s Chicago Downtown office, procured the buyer, The Shiner Group, a Wilmette-based
developer and investor.
“The buyer was drawn to the strength of the existing tenants and the long-term potential of the location,” said Kiven, managing director investments. “They plan to keep the current retailers in place and make targeted improvements to the residential units to enhance value and position the property for continued rent growth.”
Totaling 7,851 rentable square feet, 2525 North Clark Street features a walk-up residential layout above three ground-floor commercial spaces and benefits from high visibility along one of the North Side’s most heavily trafficked corridors. It is surrounded by top-tier retail, dining and cultural destinations, including DePaul University, Lake Michigan and the Lincoln Park Zoo.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
