New 7-Eleven retail building in Chicago’s North Side sold
JLL Capital Markets closed the $5.9M sale of the triple-net-leased property
CHICAGO, September 29, 2020 – JLL Capital Markets announced today that it has closed the $5.9 million sale of a new, 3,000-square-foot, single-tenant retail building triple net leased to 7-Eleven in the north side of Chicago, Illinois.
JLL marketed the property on behalf of the seller, GW Property Group.
With more than 68,000 stores serving 23 countries, 7-Eleven, Inc. (S&P: AA-) is the world’s largest store chain in the convenience retailing industry. Situated on .53 acres at 3159 N. Clybourn Ave., the property is a fueling option to the more than 68,000 vehicles that pass by per day at the five-way intersection of Clybourn, Western and Belmont avenues. The property opened in July 2020 and is in an affluent area that serves the Lakeview, Roscoe Village and North Center neighborhoods.
The JLL Capital Markets team representing the seller was led by Managing Director Alex Sharrin, Director Alex Geanakos and Analyst Truman Tiernan.
“Buyer demand for essential retail remains strong as we head into the fourth quarter,” Sharrin said.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About GW Properties
Through deep rooted and diverse relationships in the commercial real estate industry, GW Properties has developed an expertise in retail and mixed-use properties. Over the past decade, GW principals have been involved in the brokerage, investment, and development of over $500 million of real estate in the Chicagoland area with a typical deal size ranging from $500,000 to $5 million. GW practices respectful development through its collaborative approach of uncovering opportunities, optimizing value and enhancing communities. This process has yielded a track record of proven results.