Press Releases
Marcus & Millichap Brokers $5.1M Sale of Medical Office Property in Chicago
January 29, 2025
CHICAGO, Jan. 29, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 2335 S. Michigan Ave., a medical office property fully leased to Shifrin Plastic Surgery Center in Chicago, Illinois. The property sold for $5.1 million.
“This transaction highlighted the continuous demand for Midwest commercial real estate investments from out-of-state capital, as well as the strength of utilizing our platform to assist both buyers and sellers in achieving their long-term investment goals,” said Forest Bender, first vice president of investments, and Zach Rogers, associate. “Using our unique platform and market knowledge, we guided the buyer through the sale of his property in L.A. and assisted him in the acquisition of 2335 S. Michigan Ave. for his 1031 exchange.”
Bender, Rogers, Joseph DiSalvo and Sam Curtis, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller and procured the buyer in this transaction. Steven Weinstock is Marcus & Millichap’s broker of record in Illinois.
The 12,000-square-foot medical office property is in a prime downtown Chicago location along Michigan Avenue, linking cultural and business hubs. Built in 1906 and renovated in 2018, the three-story facility is fully leased to a reputable plastic surgeon under a new 11-year absolute-net lease signed at closing.
“This transaction highlighted the continuous demand for Midwest commercial real estate investments from out-of-state capital, as well as the strength of utilizing our platform to assist both buyers and sellers in achieving their long-term investment goals,” said Forest Bender, first vice president of investments, and Zach Rogers, associate. “Using our unique platform and market knowledge, we guided the buyer through the sale of his property in L.A. and assisted him in the acquisition of 2335 S. Michigan Ave. for his 1031 exchange.”
Bender, Rogers, Joseph DiSalvo and Sam Curtis, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller and procured the buyer in this transaction. Steven Weinstock is Marcus & Millichap’s broker of record in Illinois.
The 12,000-square-foot medical office property is in a prime downtown Chicago location along Michigan Avenue, linking cultural and business hubs. Built in 1906 and renovated in 2018, the three-story facility is fully leased to a reputable plastic surgeon under a new 11-year absolute-net lease signed at closing.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
