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Connect Midwest: Multifamily Adaptive & Reuse Trends – Chicago June 13


Connect Midwest: Multifamily Adaptive & Reuse Trends – Chicago June 13

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Chicago & Midwest  + Greater Chicagoland  + Retail  | 
Colliers arranged the sale of seven retail buildings and one industrial property, part of a 26-building portfolio across Chicagoland

First Phase of 26-Property Retail Sale Crosses Finish Line 

Colliers’ Peter Block, along with Rachel Patten, arranged the sale of seven multi-tenant retail properties and one industrial building, part of a 26-building, retail real estate portfolio located throughout the Chicago metro area, for $10.5 million. The close is part one of a multi-part transaction. The seller was a family office and the buyer was Indianapolis-based Arnold Meyer & Co. 

The properties sold are: 

4800-4824 West 129th St. and 12201-12217 S. Pulaski Ave. in Alsip, IL 

1700-1718 W. Algonquin Rd.; 1758-1776 W. Algonquin Rd. and 1720-1740 W. Algonquin Rd., all in Mt. Prospect, IL 

3244-3260 W. 55th St. in Chicago 

·6823-6837 S. Grand Ave. in Hammond, IN 

4736-4756 W. Cal Sag Rd. in Crestwood, IL 

1604-1618 Sibley Blvd. in Calumet City, IL 

“This was a very attractive opportunity to acquire stable assets that have maintained their occupancy for 30 to 40 years,” said Block. “With one transaction, the buyer quickly establishes a nice footprint in the market.” 

Block expects to close on the remainder of the portfolio this summer. 


Inside The Story

Colliers' Block

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).

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