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Chicago & Midwest  + Greater Chicagoland  |  March 12, 2019
Paul Bubny
By: Paul Bubny

Podolsky Arranges Sale in Homewood After Lease-Up Campaign

Podolsky Circle CORFAC International has completed the sale of 1820 Ridge Road in Homewood, IL. The $800,000 sale to AM Realty Management occurred after Podolsky Circle’s management and leasing teams increased occupancy from 15% to 95% through a multi-year capital improvement and marketing plan.

A Podolsky Circle middle market investment advisory team of Alissa Adler, John Homsher and Paul Tesdal represented the seller, Husky Lake Acquisition I LLC, in the transaction. 1820 Ridge is a three-story, 47,311-square-foot, multi-tenant office property in downtown Homewood.

“The successful disposition of 1820 Ridge Road truly was a collaborative endeavor between our client and our leasing, management and sales teams,” said Homsher. “Due to our knowledge of the market and synergetic efforts, our team was able to increase occupancy by 80% in a challenging leasing market.”

The property is occupied by a diverse group of tenants, including healthcare, financial and legal service providers.

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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).
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