Tom Funke Buys 1422 North Kingsbury Street Retail Property In Chicago For $20M | 1422 North Kingsbury Street | Retail | Sale

Summary

Sale

ILLINOIS

Retail

40,000 sqft

The 40,000-square-foot REI store located at 1422 North Kingsbury Street in Chicago was sold for $20,000,000. The property was acquired by investor Tom Funke from sellers Matt Garrison & Jason Trailov of R2 and Goldman Sachs. The sale price equates to approximately $500 per square foot.

Summary of transaction details:

Property Type: Retail
Transaction Amount: $20,000,000
Buyer: Tom Funke
Seller: Matt Garrison & Jason Trailov - R2 ; Goldman Sachs
Broker: JLL
Address: 1422 North Kingsbury Street
Market: Chicago

The sale of the REI store in Chicago to Tom Funke was facilitated by JLL. The transaction underscores the attractiveness of net lease investments with long-term tenants, showcasing resilience in the face of challenging market conditions in Chicago.

Details

Deal Summary

SOLD

IMAGE: Matt Garrison DATE: 02/29/2024 ADDRESS: 1422 North Kingsbury Street MARKET: Chicago ASSET TYPE: Retail BUYER: Tom Funke SELLER: Matt Garrison & Jason Trailov - R2 (@R2Companies); Goldman Sachs (@GoldmanSachs) BROKER: JLL (@JLL) SALE PRICE: $20,000,000 SF: 40,000 ~ PPSF: $500 NOTE: R2 and Goldman Sachs sold the 40,000-square-foot REI store in Chicago to investor Tom Funke for about $20 million. The sale highlights the appeal of net lease investments with long-term tenants, despite tough market conditions in Chicago.

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Address1422 North Kingsbury Street

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