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Chicago & Midwest  + North Side  + Retail  | 

Family-Owned Produce Store Goes to Market for Redevelopment

Paine Wetzel  Commercial Real Estate and MWA Capital Advisors have been hired by the Panagiotaros family to market the former Stanley’s Fresh Fruit and Vegetables property located at the corner of North Avenue and Elston Avenue on the North Side. After serving several North Side neighborhoods for decades, the family has decided to sell the property as competition and redevelopment come to the area.

Ed Wabick, principal of Paine Wetzel, and Ken Nofziger, president of MWA, are spearheading the marketing effort. “Our goal here is to maximize the value of the property for the Panagiotaros family by bringing a buyer to the table that sees the future potential of this property,” Wabick said

Nofziger noted that the property has “a wide range of potential future uses and could be redeveloped into retail, apartments, offices, medical or a multitude of other options.”

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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 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 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