Hanley Investment Group Arranges Sales of Three Multi-Tenant Retail Centers in Suburban Chicago

Plano, Waukegan and New Lenox, Ill. — Hanley Investment Group Real Estate Advisors has arranged the sales of three multi-tenant retail properties in suburban Chicago for a combined $10 million. 

The properties total 76,357 square feet and include Lakewood Springs Commons, a 26,300-square-foot center located at 200-270 Mitchell Drive in Plano; Cedar Center, a 22,370-square-foot property located at 100-196 West Illinois Highway in New Lenox; and Bay Ridge Court, a 27,687-square-foot center located at 422-484 North Green Bay Road in Waukegan. 

Dylan Mallory, Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller, a private investment group based in Chicago, in the sale of Lakewood Springs Commons. Greg Cline of The Cline Co. represented the buyer, a private investor based in New Jersey, in the $3.1 million transaction. 

Mallory, Lefko and Asher of Hanley, in association with ParaSell Inc., represented the seller, a private investment group based in Chicago, in the $3.5 million sale of Cedar Center. David Cendejas of SVN Vanguard represented the buyer, a private investor based in Los Angeles. The property was home to tenants including Rosati’s Pizza and Key Autism at the time of sale. 

In the final transaction, Lefko and Asher of Hanley, in association with ParaSell Inc., represented the seller, Fortune Bank, in the $3.6 million disposition of Bay Ridge Court. Douglas Cole of Marcus & Millichap represented the buyer, a private investor based in Los Angeles, in the transaction.

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