The single-story building is at the intersection of Halsted Street and Diversey Parkway in Chicago's Lincoln Park neighborhood. "We thought the property had a great location with strong demographics," Haney says. "We think the demographics will continue to improve." The building is less than 20 years old, which is newer than most of the buildings in the area, he says.
The property is 81% leased. Tenants include Dunkin' Donuts, Back to Bed and Performance Bicycle Shop. The asking lease rate is $44 per sf triple net, Haney says. The property also has 32 parking spaces. "It has parking, which is unique" for the area, he says. The building is near Lake Shore Drive and public transportation. David Stone, with Stone Real Estate, represented Newcastle and the seller in the transaction.
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