26-Property Retail Sale Completes First Phase Successfully

26-Property Retail Sale Completes First Phase Successfully

Colliers’ Peter Block, along with Rachel Patten, arranged the sale of seven multi-tenant retail properties and one industrial building as part of a 26-building retail real estate portfolio located throughout the Chicago metro area. The close marked phase one of a multi-part transaction for $10.5 million; the seller was a family office and buyer Indianapolis-based Arnold Meyer & Co.

The properties sold included: 4800–4824 West 129th St., 12201–12217 S Pulaski Ave., Alsip IL; 1700–1718 W Algonquin Rd.; 1758–1776 W Algonquin Rd.; 1720 – 1740 W Algonquin Rd., Mt Prospect IL; 3244 – 3260 W 55th St., Chicago IL; 6823 – 6837 S Grand Ave Hammond IN ; 4736 – 4756 Cal Sag Road Crestwood IL ; 1604 – 1618 Sibley Blvd Calumet City Il .  

Commenting on this opportunity, Block said “This was an attractive chance to acquire stable assets that have maintained their occupancy for 30 to 40 years in just one transaction allowing buyers quickly establish their presence in this market.” He further added that he expects closing on remainder of portfolio by summer 2021.

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