CHICAGO, ILLINOIS – Thursday, October 15, 2015
ACO Commercial is pleased to announce the sale of 2502 N. Clark St., a 15,000 SF office/retail building in Chicago’s Lincoln Park neighborhood.
Edward N. Bluemel II, Vice President, arranged the transaction on behalf of a longtime owner of thirty years. At the time of sale, the property was 97% occupied by a mix of local and regional tenants.
ACO identified a 1031 Exchange buyer who purchased the asset for $317/SF, at a 6.55% cap rate. This sale represents the building’s first transaction since it was developed in 1986.
ACO Commercial specializes in the sale of commercial and investment real estate throughout the Midwest.