Quantum Real Estate Advisors has completed the sale of Little Village Plaza, a multi-tenant retail center in Chicago. Chad Firsel, president of Quantum, represented both the seller—a local development company—and the buyer—Novak Construction Co., which acquired the asset for $17.5 million. In January, Firsel and Vice President Jason Lenhoff represented the seller of a 138,203-square-foot, multi-tenant shopping center in Melrose Park, Ill.
The 117,700-square-foot, three-building property is situated on approximately 6 acres at 3045-3117 W. 26th St. The tenant roster includes Sudz Laundromat, St. Anthony Clinic and Walgreens. The asset was fully occupied at the time of sale, with existing leases having a weighted term of approximately 3 years remaining.
The retail center is located 2 miles from Interstate 55 and 1 mile from the nearest subway station. Little Village Plaza is within 6 miles of Chicago Midway International Airport and 2 miles of Western Avenue train station.