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Chicago & Midwest  + North Side  + Retail  | 
Next Realty has exited its investment in Nagle Plaza, a 100% leased shopping center in Chicago

Next Realty Exits Value-Add Investment in Chicago 

An affiliate of Next Realty, LLC has completed the sale of Nagle Plaza, a 30,000-square-foot, mixed-use property anchored by Walgreens and shadow-anchored by Shop & Save Market. Located at 6304-6310 Nagle Ave. In Chicago, the property was sold to a private investor. 

Acquired through Next Realty Fund VII, the property represented a value-add strategy, with Next initially acquiring the defaulted first mortgage note from a CMBS special servicer. A year ago, Next finalized a long-term lease with Walgreens, refinanced the CMBS loan and completed lease-up of the property.  

“After completing this most recent sequence of events, beginning with the Walgreens lease extension, we determined it was an optimal time to sell the property and maximize the returns to Fund VII investors,” said Eteri Zaslavsky, Managing Director, Next Realty. 

Sean Sharko and Austin Weisenbeck, both SVPs with Marcus & Millichap, represented Next Realty in the sale of Nagle Plaza. 


Inside The Story

Next RealtyMarcus & Millichap's Sharko | Weisenbeck | Mendoza team

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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