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Crest Hill Shopping Center Sells to California Buyer
Hanley Investment Group Real Estate Advisors has completed the sale of South Weber Plaza, a 28,600-square-foot multi-tenant retail property in the Will County community of Crest Hill, IL. Deal terms weren’t disclosed.
Hanley VP Jeff Lefko and EVP Bill Asher, along with Jonny Lefko, VP at Greenstone Partners of Chicago and brother of Jeff Lefko, represented the seller, a private partnership based in Illinois and Missouri. The two Lefkos and Asher also represented the buyer, an all-cash 1031 exchange buyer based in Southern California.
Located at 1801-1847 Knapp Rd. in Crest Hill, the shopping center was 100% leased at the time of sale. In 2018, the shopping center underwent a major renovation, which included a new façade, storefronts, signage, parking lot, HVAC and landscaping.
“California buyers, in search of higher yields, were attracted to the service-based, internet-resistant tenant line-up and the center’s recent renovation,” said Hanley’s Lefko.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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