October 24, 2016— Quantum Real Estate Advisors, Inc. has brokered the sale of a 33,136 square foot multi-tenant retail building located at 800-838 West Laraway Road in New Lenox, IL. The property was sold for $6,150,000. The building is 95% occupied by a mix of national and local tenants: Anytime Fitness, Dunkin’ Donuts/Baskin’ Robbins, ATI Physical Therapy, State Farm Insurance, Soleil Nails, Split Enz Salon, Country Financial, Nelson Ridge Dental, Ultimate Exposure Tan, Teardrop Cafe, Pizza Mia, Laraway Dry Cleaners, and First Bank of Manhattan. The buyer was a private real estate investor based in Orland Park, IL. The seller was a Los Angeles based investment group. Chad Firsel, President of Quantum Real Estate Advisors, Inc. and Daniel Waszak, Senior Vice President of Quantum Real Estate Advisors, Inc. represented the Seller.
Mr. Firsel had the following comments regarding the transaction, “The buyer was able to acquire a very attractive property that has a nice stable mix of national and regional tenants. This will be an excellent long-term hold for the buyer.” Mr. Waszak continued, “Both parties were able to work very closely to close this deal in two weeks in order to accommodate the buyer’s 1031 exchange.”