CHICAGO, ILLINOIS (November 16, 2022) – Northmarq investment sales broker Isaiah Harf completed the sale of a Whole Foods Market located at 6020 North Cicero Avenue in Chicago, Illinois. The 41,148-square-foot grocery store is situated on the first floor of a vertical condominium development. Harf represented the seller, a private investor based in Maryland. A family trust located in Denair, California acquired the asset for approximately $18.1 million.
“Despite the challenging headwinds of interest rates rising nearly 300 basis points during the transaction, this premier asset received multiple offers and went under contract quickly,” said Harf. “The purchaser is excited about their future long-term ownership of this property and its uniqueness in the immediate marketplace, offering full underground parking and being located directly off the expressway. Not only were the sales at this location above average, but Amazon/Whole Foods had already renewed once prior.”
The property was originally built in 2007 and is situated on a 1.85-acre lot. Located in the Sauganash neighborhood of Chicago’s northside, the high-end grocer benefits from 284,237 residents with an average household income of $99,533 within a three-mile radius. The retailer is less than 12 miles from downtown Chicago and sits at the signalized hard corner of West Peterson Avenue and Cicero Avenue, immediately east of the on and off ramps to Interstate 94.