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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

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.” 

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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 13-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 15-20 daily news stories per day and also 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.

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