SVN Chicago Brokers Retail Asset Deal
- Jun 28, 2019
SVN International Corp.’s Vice Presidents Jennifer Hopkins and Olivia Czyzynski has represented the seller of Huntley Shops, a 9,000-square-foot retail property in the Chicago metro area. The property sold for $3.1 million in an off-market transaction that also involved Carolyn Michaels of Chicago Metro Realty as the buyer’s broker.
The asset is located at 12030-12090 Princeton Drive in Huntley, Ill., and is home to national and regional tenants such as Dunkin Donuts, Papa Saverio’s Pizza, Hair Cuttery and H&R Block, having only one vacant space available. The property was initially available for lease with the intention of finding a tenant for the vacant lot before selling it.
The nearby area is home to a number of restaurants and grocery stores, which include Starbucks, Burger King, McDonald’s, Aldi as well as a Walmart store. The retail property offers direct access to State Route 47.
The sale shows that certain investors continue to be interested in shopping centers with value-creation potential despite the structural changes affecting the retail sector.
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