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Colliers Arranges Two Multi-Tenant Retail Sales
Colliers International Chicago’s Peter Block recently arranged the sale of two multi-tenant retail centers in the Chicago suburbs. They include:
• 570-586 East Devon Ave. in Elk Grove Village (pictured). The 127,754-square-foot, 100% leased strip center is located in the heavily trafficked Devon/Busse Avenue corridor where there is a balanced mix of commercial, industrial and residential properties. The property traded to a private investor out of Ohio for $1.45 million.
• 1107 Waukegan Rd. in Glenview is a 13,849-square-foot, 100%-leased strip center anchored by gluten-free bakery Sweet Ali’s. The buyer was a Chicago-based private investor who plans to put a Sylvan Learning Center in the strip. The sale price was $932,000.
“These two properties provided buyers with an excellent opportunity to purchase stable assets with solid rent rolls,” said Block. “While COVID has affected the multi-tenant retail market, these deals are proof that well-located retail remains in high demand in the marketplace.”
- ◦Sale
