SRS Negotiates $2.8M Sale of US Bank-Occupied Property in Chicago’s Chinatown Neighborhood

CHICAGO — SRS Real Estate Partners has negotiated the sale of a single-tenant retail property occupied by US Bank in Chicago’s Chinatown neighborhood for $2.8 million. Constructed in 1991, the 5,400-square-foot building is located at 2131 S. China Place. US Bank has more than nine years remaining on its lease at the property, which is situated within Chinatown Square, a nearly 162,000-square-foot outdoor mall that offers authentic cuisines, stores and traditional artwork. Sean Lutz and Dan Elliot of SRS represented the seller, a California-based private investor. Zoe Zhu of Century 21 represented the buyer, a Chicago-based private investor. The transaction represented a cap rate of 4.6 percent.