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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Hanley Closes Sale of 100%-Occupied Carpentersville Retail

Hanley Investment Group Real Estate Advisors completed the sale of a 100%-occupied, 11,035-square-foot multi-tenant retail property shadow-anchored by a Home Depot in Carpentersville, IL. The sale price for Shoppes on Route 31 was $3,950,000.  

Senior associate Brad Dessy, in conjunction with ParaSell, Inc., represented the seller, a private investor based in Arizona. The buyer, a private investor based in San Diego, was represented by Colliers’ Chuck Wasker, also in San Diego. 

“We generated 13 qualified offers and secured an all-cash buyer based in Southern California along with a 35-day escrow period, and closed at 97% of the asking price,” said Dessy. “More than half of the offers were from California-based buyers, which demonstrates the continued outflow of California capital to other regions of the country like the Midwest.”  

Built in 2007, the six-tenant property consists of Panda Express, ATI Physical Therapy, Game Stop, a dental office, SportClips and T-Mobile. 

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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
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