Marcus & Millichap Sells 7-Eleven Retail Property In Chicago For $5.3M

A 2,700-square-foot retail property in Chicago, located at 191 West Adams Street, has been sold for $5,300,000. The property, which houses a 7-Eleven, is situated on the ground floor of the recently restored JW Marriott hotel. This transaction was facilitated by Nicholas Kanich of Marcus & Millichap, who represented both the Chicago-based private investor seller and the California-based investment group buyer. The price per square foot for this sale was $1,963.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,300,000
• Address: 191 West Adams Street, Chicago
• Market: Chicago
• Broker: Nicholas Kanich - Marcus & Millichap
• Square Footage: 2,700
• Price Per Square Foot: $1,963

This sale of the retail property in Chicago was successfully executed with the assistance of Nicholas Kanich, the representative of Marcus & Millichap. Kanich played a crucial role in bringing together the Chicago-based private investor seller and the California-based investment group buyer. This transaction highlights the importance of effective brokerage in securing deals and connecting buyers and sellers in the real estate market.