Chicago-area shopping center trades for $4.35 million

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REjournals

Hanley Investment Group Real Estate Advisors has completed the sale of a new construction, 9,723-square-foot retail property at Bradley Commons, a Walmart Supercenter-anchored shopping center located in the Chicago metro area. The sale price was $4,350,000. Hanley Investment Group has been one of the most active retail investment brokerage companies in the Midwest with over $427 million in sales in the last three years including 36 retail transactions in the last 12 months.

Hanley Investment Group’s Executive Vice Presidents Jeff Lefko and Bill Asher, in conjunction with ParaSell, Inc., represented the seller, Midland Atlantic Properties of Cincinnati, Ohio. The buyer was a private investor from Des Moines, Iowa. 

Located at Bradley Commons at 2070 N. State Route 50 in the village of Bourbonnais, the four-tenant pad building includes Jersey Mike’s Subs with a drive-thru, Midwest Express Clinic, AT&T and uBreakiFix. The 1.29-acre property, which was built in 2018, still includes all of the original tenants and is situated in the dominant regional retail trade area, minutes from Olivet Nazarene University, which also serves as the Chicago Bears Training Camp. According to Hanley Investment Group, there are more than 96,000 people in the trade area with a household income of $79,646 in a 3-mile radius. 

Bradley Commons features a variety of national tenants including Bed Bath & Beyond, Kohl’s, Dick’s Sporting Goods, Five Below, Petco, ULTA Beauty, Olive Garden, Buffalo Wild Wings, McDonald’s, Taco Bell, Sleep Number, Verizon, T-Mobile, Great Clips, GameStop, Discount Tire, Murphy USA, and more.  

Hanley Investment Group has arranged the sale of 14 retail properties in the Chicago metro area in the last 36 months valued at over $67 million and totaling over 230,000 square feet.