High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Quantum Brokers Sale of CVS in Tinley Park

Quantum Real Estate Advisors brokered the sale of a single-tenant CVS at 9551 171st in Tinley Park, IL. The 14,421-square-foot property sold for just under $6,000,000.

The seller, a Dallas-based investment group, was able to negotiate a new 20-year lease with CVS. The buyer, a private investor from New York City, purchased the property as part of a 1031 exchange. Quantum SVP Dan Waszak represented the buyer.

“This was the first acquisition in a multi-property 1031 exchange for the purchaser,” said Waszak. “He was able to acquire a well-located, high-quality asset for his portfolio that he will hold for the long-term. This acquisition is yet another example of the resiliency of the net-lease sector, especially the ‘essential needs’ retailers.”

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Quantum’s Waszak

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
New call-to-action
New call-to-action