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Chicago & Midwest  + Greater Chicagoland  + Retail  | 
The site at 6616 95th St. in Oak Lawn, IL formerly contained a restaurant

Oak Lawn Development Site Sale Sets Per-Acre Pricing Record

Greenstone Partners brokered the off-market sale of a retail development site in Oak Lawn, IL. The transaction closed for $2.65 million or $57 per square foot, representing the highest land price per acre on record in Oak Lawn and Evergreen Park, and was brokered by Greenstone senior director Brewster Hague and investment associate AJ Patel. 

“The site was comprised of a vacant restaurant, is situated on a 1.07-acre land parcel, and formally home to a Texas Corral,” said Hague. “The property is prominently located within one of the area’s top commercial corridors and sees nearly 50,000 vehicles per day.” 

Located at 6616 West 95th St., the site is across the street from Chicago Ridge Mall. “The buyer saw the unique opportunity to acquire and demolish the restaurant to make way for a brand new, ground up retail development,” Patel said. He and Hague represented both seller and buyer. 

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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 GlobeSt.com 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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