Time Equities Inc. has recently acquired Burbank Plaza, a suburban shopping center located at 8014–8050 S. Cicero Avenue, for $3.1 million from a private investor. This marks the tenth property in the company’s Illinois portfolio and demonstrates their continued growth in the Chicago market.
The 28,000-square-foot shopping center boasts high traffic with approximately 73,000 vehicles passing by daily and is conveniently situated just three miles from Chicago Midway International Airport. It currently maintains an impressive occupancy rate of 91%, anchored by popular retailer Family Dollar and adjacent to a Jewel-Osco store.
Representing Time Equities were Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith while CBRE’s Adam Foret acted as agent for the seller during this transaction.
Burbank Plaza adds to Time Equities’ expanding presence in Chicago which includes notable projects such as their luxury residential tower on Michigan Avenue at Grant Park known as “1000M”. With this latest acquisition under its belt, it is clear that Time Equities continues to make strategic moves towards further success within the real estate industry.
