Quantum Real Estate Brokers $18M Retail Deal in Chicago
Quantum President Chad Firsel negotiated the transaction on behalf of both the seller and the buyer.
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.
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