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CHICAGO-Principal Real Estate Investors has paid $25.3 million for the Point at Clark Street, 95,455-sf fully-leased retail building in the heart of the city's Lakeview neighborhood. Marshalls, Linens 'n Things and DSW are among the tenants at 3131 N. Clark St.

Median family income in the immediate area is estimated at $86,346, according to census information. "The Point at Clark Street is a high-quality retail building in the heart of Chicago with a great rent roll and traffic flow," says Principal Real Estate Investors managing director of acquisitions and dispositions Mark Hanrahan.

The real estate investment arm of Des Moines-based Principal Financial Group bought the property from Clark Street, LLC, according to documents filed with the Cook County Recorder of Deeds office, and has hired CB Richard Ellis to manage the asset at the intersection of Belmont Avenue, Clark and Halsted streets. The Skokie-based limited liability corporation has owned the property since 1995.