Hanley Investment Group Arranges Sales of Three Retail Properties in Suburban Chicago for $10M
PLANO, WAUKEGAN AND NEW LENOX, ILL. — Hanley Investment Group Real Estate Advisors has arranged the sales of three retail properties in suburban Chicago for roughly $10 million. In the first transaction, Lakewood Springs Commons in Plano sold for $3 million. The 26,300-square-foot center was built in 2007. Dylan Mallory, Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller, a private investment group based in Chicago. Greg Cline of The Cline Co. represented the buyer, a New Jersey-based private investor.
Cedar Center in New Lenox sold for $3.4 million. The 22,370-square-foot property was built in 2007. The Hanley team represented the seller, a Chicago-based private investment group. David Cendejas of SVN Vanuard represented the buyer, a Los Angeles-based private investor.
In the final transaction, Bay Ridge Court in Waukegan sold for $3.6 million. Built in 1991 and remodeled in 2020, the property spans 27,687 square feet. Lefko and Asher represented the seller, Fortune Bank. Douglas Cole of Marcus & Millichap represented the buyer, a Los Angeles-based private investor.