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.