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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Park Forest Retail Trades in Opportunity Zone

Matanky Realty Group’s Terri Cox and Don Wagener have closed on the sale of Orchard Park Plaza, a 102,647-square-foot shopping center in downtown Park Forest, IL. The 13.99-acre property, which includes undeveloped land, is located within an Opportunity Zone.

Freedom Development Group purchased the three-building retail asset for an undisclosed price. Orchard Park Plaza includes a fully equipped grocery store and an auto repair center, and is anchored by Family Dollar.

“The buyer has enormous opportunity in leasing the remaining vacancies and developing the additional acreage acquired in the sale,” said Cox, who represented the seller. “With over 142,000 people within five miles of the property, this is a phenomenal purchase. We look forward to the future for the center.”


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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 16-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 7-10 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).

  • ◦Sale/Acquisition
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