Orland Park, Ill. — Quantum Real Estate Advisors Inc. has arranged the sale of a single-tenant retail building occupied by REI in Orland Park, a southern suburb of Chicago. The property was fully renovated in 2021 and leased to REI on a long-term net lease. Chad Firsel of Quantum represented the seller, a Chicago-based development group. George Pino of Commercial Brokers International represented the buyer, a California-based private investor.
South Barrington, Ill. — Star Cinema Grill has signed a 15-year lease to open a 38,000-square-foot location at The Arboretum of South Barrington in the northwest Chicago suburb of South Barrington. Star Cinema Grill is opening in a space previously occupied by IPIC Theaters. Slated to open this spring, the movie theater will offer an extensive menu and full-service bar. Mike Zucker, managing partner of Peak Properties LLC, was named receiver of the 480,000-square-foot shopping center in late 2020. Madeline Wheeler of JLL represented Peak, while Kristen Barker of Wulfe …
Schaumburg, Ill. — A joint venture between PCCP and KPR Centers has acquired Schaumburg Corners, a 160,301-square-foot shopping center in the Chicago suburb of Schaumburg. The purchase price was undisclosed. Anchored by Amazon Fresh, the fully leased property was also home to Bob’s Furniture, Office Depot, Petco and H Mart at the time of sale. Kensington Development Partners was the seller.
Romeoville, Ill. — Marcus & Millichap has arranged the sale of a Walgreens-occupied property in the Chicago suburb of Romeoville for $6.5 million. The 24-hour store is positioned at the entrance to Carillon, a master-planned retirement community. Brian Parmacek and Mitchell Kiven of Marcus & Millichap marketed the property on behalf of the seller, an undisclosed developer. Benjamin Kohl of Marcus & Millichap secured and represented the buyer, an out-of-state private investor. Frank Montalto and Dean Giannakopoulos of Marcus & Millichap Capital Corp. obtained acquisition financing on behalf of the …
Chicago — Barstool Sports has opened a sports bar at 14 W. Hubbard St. in Chicago’s River North neighborhood. This is the first sports bar for Barstool Sports, which is a brand founded by Dave Portnoy and owned by Penn National Gaming. The 8,500-square-foot space, which was formerly home to Henry’s Swing Club, is owned by DynaProp Development Corp. Michael Weber and Ian Feinerman of @properties Commercial represented SBH Chi LLC, an entity affiliated with Stanton & Bowery Hospitality, which will operate the bar on behalf of Barstool Sports. Daniel …
Oak Brook, Ill. — Inland Private Capital Corp. has arranged the sales of eight Walgreens properties totaling 113,130 square feet across Arkansas, Michigan, Missouri and Tennessee. The properties sold in separate transactions for a total of $37 million. A subsidiary of Inland Private Capital Corp. facilitated the sales on behalf of Pharmacy Sale Leaseback II DST, one of IPC’s 1031 investment programs.
East Peoria, Ill. — Krab Kingz has opened at EastPort Plaza, a shopping center located within the central Illinois town of East Peoria. The seafood restaurant specializes in Southern-style seafood boils and offers fresh king crab, snow crab and blue crab. The menu also features other seafood options such as shrimp, lobster and salmon. The East Peoria location will be the first Krab Kingz restaurant in central Illinois. Rimmon McNeese is the franchisee. Cullinan Properties Ltd. owns and manages EastPort Plaza, which is home to tenants such as Erie Insurance, …
New Lenox, Ill. — Marcus & Millichap has arranged the $4.9 million sale of a retail strip center in New Lenox, a southwest suburb of Chicago. Chipotle Mexican Grill anchors the 9,907-square-foot property. Other tenants include MOD Pizza, Smoothie King, Classy Nails and Vino Gaming Wine Bar. Brian Parmacek of Marcus & Millichap represented the seller, a Chicago-based developer. The buyer was undisclosed.
Lemont, Ill. — Cooper Commercial Investment Group has brokered the $8.1 million sale of Centennial Plaza, a 38,500-square-foot retail center located in the Chicago suburb of Lemont. Jewel-Osco shadow-anchors the center, which was 97 percent leased at the time of sale. Bob Havasi and Dan Cooper of Cooper Group represented the seller, a New Jersey-based private investment group. A California-based private group was the buyer. The asset traded at a cap rate of 7.4 percent.
Wilmette, Ill. — The Boulder Group has brokered the sale of a portfolio of properties net leased to Dollar General for $5.4 million. The four single-tenant buildings are located in Battle Creek, Michigan; Bedford, Indiana; Sheffield, Illinois; and Streator, Illinois. Randy Blankstein and John Feeney of Wilmette-based Boulder represented the seller, a West Coast-based private individual, as well as the buyer, a Midwest-based institution. Each property has 10 to 12 years remaining on its lease term.
