SVN Brokers Chicago Retail Asset Sale
- Jul 12, 2019
A month after arranging the sale of Huntley Shops, in Huntley, Ill., SVN Chicago brokered a new retail deal in the Chicago metro area. The company’s Senior Vice President Jeff Baasch closed on the $10 million sale of the properties at 909-25 W. Belmont in the Lakeview neighborhood, which are currently anchored by an Ann Sather restaurant. According to Crain’s Chicago, the buyer is a group associated with local real estate investor Tim Glascott.
Chicago Alderman Tom Tunney, who owns the Ann Sather restaurant chain, will continue to operate the business for the next 10 years under an extended sale-leaseback arrangement. Tunney will also continue to own and operate the other two Sather restaurants on Broadway Street and Granville Avenue, which are also leased locations.
The asset is close to the retail corridor along Clark Street and can be reached via the Belmont Metra station. The restaurant serves both Lakeview and Boystown neighborhoods.
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