Chicago, IL (November 16th, 2022) – Quantum Real Estate Advisors, Inc. has brokered the sale of a 13,000-square-foot multi-tenant shopping center located at 5114-5128 W. 95th Street in Oak Lawn, Illinois. Commonly known as 51st Avenue Station. The property sold for $3,500,000. Built in the mid-2000s, the property features institutional-quality construction and attractive aesthetics. At the time of sale, the property was fully occupied by: Chiro One, Miracle One, Cold Stone Creamery, and other local and national tenants. The buyer was a private, 1031 exchange investor based in Illinois. The seller was a private fund based in Illinois. Chad Firsel, President, and Brett Berlin, Vice President of Quantum Real Estate Advisors, Inc. represented the seller in the transaction.
Mr. Berlin had the following comments regarding the transaction, “The buyer was able to acquire a stabilized shopping center in a very strong retail submarket. The strength of the asset allowed the buyer to obtain attractive financing, even in a very disruptive lending environment.” Mr. Berlin continued, “This was part of a 1031 Starker Exchange for the buyer, and we were able to close in 29 days from contract to close.”
Quantum Real Estate Advisors, Inc. (www.QREAdvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management, and financing.