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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Quantum Brokers Melrose Park Retail Deal

Quantum Real Estate Advisors recently brokered the sale of a 138,203-square-foot multi-tenant retail shopping center in Melrose Park, IL, co-anchored by dd’s Discounts and Planet Fitness. The property sold for $11 million to a private real estate investor based in New York City.

The seller, a local property owner from Chicago, was represented by Quantum’s Chad Firsel and Jason Lenhoff. “This was an outstanding opportunity for the buyer to acquire a 95% occupied shopping center at a favorable yield with significant upside,” said Lenhoff. “The property benefits from an increase and upgrade in tenancy, making it one of the more desired locations in the market.”

He added, “The buyer has potential opportunities with an outlot development, leasing some vacancy and increasing rents over time. This was an all-around excellent opportunity for all parties involved.”

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Quantum's Firsel and Lenhoff

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
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