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Time Equities Acquires Burbank Plaza Shopping Center

Time Equities Inc. has acquired the suburban shopping center Burbank Plaza located at 8014–8050 S. Cicero Avenue from a private investor. The real estate company closed on a deal to purchase the 28,000-square-foot for $3.1 million, making it the tenth property in the firm’s Illinois portfolio, reported the Chicago Business Journal.

Time Equities was represented internally by Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith. CBRE’s Adam Foret represented the seller.

The center sees traffic of nearly 73,000 vehicles per day due and is located just three miles from the Chicago Midway International Airport. Burbank Plaza is 91% occupied, anchored by Family Dollar, and is adjacent to a Jewel-Osco store. Time Equities has a growing presence in the Chicago market, including 1000M, a 73-story luxury residential tower located on Michigan Avenue at Grant Park.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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