Private Investor Acquires Fully Leased Retail Condo At 500 North Michigan Avenue For $41 Million

A private investor completed the purchase of a fully leased retail condo located at 500 North Michigan Avenue in Chicago, Illinois, for $41 million. The property spans 21,565 square feet, with a price per square foot of $1,901. It is situated on the Magnificent Mile and is fully occupied by tenants, including Bank of America and Chick-fil-A.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $41,000,000
• Square Footage: 21,565
• Price Per Square Foot: $1,901
• Address: 500 North Michigan Avenue
• Market: Chicago

Broker Keely Polczynski from Newmark represented both the buyer and seller in this transaction, facilitating the deal for the involved parties.