SRS Real Estate Partners’ National Net Lease Group (NNLG) recently completed the sale of a single-tenant retail property occupied by Wendy’s for $3.035 million. Located at 2811 N. Narragansett Ave., Chicago, this 4,031-square-foot property was built in 1983 and renovated in 2022 on 0.63 acres of land adjacent to The Brickyard (549,000 square feet) and Bricktown Square (291,000 square feet). Surrounding national retailers include Target, ALDI and Marshall’s with more than 908K residents and 244K employees within a five mile radius of Belmont Central neighborhood where the bustling activity continues to grow with this new addition from SRS NNLG’s sale.
Senior Vice Presidents Sean Lutz & Dan Elliot represented the seller – a California based private investor – while Bruce Lee & Hope Kim from New Star Realty represented all cash buyer also based out of California closing at 5.27% cap rate ($753 per sqft). This latest transaction brings even more burgers to Belmont Central!
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