REBusinessOnline

MID-AMERICA ARRANGES $2.3M SALE OF RETAIL PROPERTY

CREST HILL, ILL. — Mid-America Real Estate Corp.’s net lease investment group has brokered the $2.3 million sale of a two-tenant, 88,000-square-foot retail building leased to Big Lots and Home Owners Bargain Outlet (HOBO) in Crest Hill. A private investor in California purchased the property from a local Chicago area investor. The property is primarily located along Larkin Avenue, bordering Plainfield Road to the north and Theodore Street to the south. Major retailers surrounding the property include Jewel/Osco, Ultra Foods, Food 4 Less and T.J. Maxx. Tom Fritz and Mark Goldberg of Mid-America Real Estate Corp. represented the seller in the transaction. Mid-America advised the seller to offer Big Lots a monetary incentive in order to obtain a fresh 10-year lease. The seller invested less than $200,000 in a new storefront in exchange for a seven-year lease extension. The move picked up an additional $400,000 in property value.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Request media kit

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties