Chicago, IL (December 5, 2017) – Quantum Real Estate Advisors, Inc. has brokered the sale of Belvidere Plaza in Belvidere, IL. The 28,094 square foot property sold for $1,530,000. The property location is 342-390 West Chrysler Drive. The center houses a mix of local and national tenants and is anchored by Family Dollar. The buyers are private real estate investors based in Washington D.C. The seller is a prominent property owner from Michigan. Chad Firsel, President of Quantum Real Estate Advisors, Inc. represented the seller in the transaction. Jack Farritor, Vice President of Quantum Real Estate Advisors, Inc. represented the buyer.
Mr. Firsel had the following comment regarding the transaction, “The seller was a long-term owner who recently stabilized the asset.” Mr. Farritor added, “The buyer effectuated a 1031 Exchange. This purchase accomplished their goals of moving profits from a previous property to an asset with more desirable management obligations.”
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.