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Oak St. Corridor Sees First Sale Since 2016

Mid-America Real Estate Corporation’s investment sales team has brokered the sale of 118-120 E. Oak St., Ill. The $23-million sale reportedly ended a two-year hiatus in investment property sales along this stretch of Oak Street.

Chicago-based L3 Capital, which has made other acquisitions in the Oak Street luxury district, bought the 10,141-square-foot center. It’s occupied by the Northern Trust Corporation.

Mid-America principals Joe Girardi and Stan Nitzberg were the exclusive brokers in the transaction on behalf of a private seller. Citing county property records, Crain’s Chicago Business identified the seller as an affiliate of MacMunnis, an Evanston, IL business providing lease administration software and services.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition