Chicago, IL (June 26, 2017) – Quantum Real Estate Advisors, Inc. has brokered the sale of a multi-tenant retail building located at 3359 Chicago Road in South Chicago Heights, IL. The 16,224 square foot property sold for $1,000,000. At the time of sale the building was 71% leased with national and local tenants: Aaron’s, Hair Cuttery, and P’s Nail Salon. The buyer was a private real estate investment partnership based in New York City and Los Angeles. The seller is a prominent property owner from the Chicagoland area. Chad Firsel, President of Quantum Real Estate Advisors, Inc. represented the seller in the transaction.
Mr. Firsel had the following comments regarding the transaction, “The buyer was able to acquire a retail center in the heart of a regional trade area.” Mr. Firsel continued, “The property has excellent curb appeal and excellent design and is on ‘the’ corner within the submarket. This property will provide solid cash flow for years to come.”
Mr. Waszak added, “The buyer’s we’re a partnership with offices in NYC and LA. They have ambitious plans to add value to the property. I am excited to see them execute the strategy.”