{"id":1004144365,"date":"2016-05-20T01:17:10","date_gmt":"2016-05-20T09:17:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004144365"},"modified":"2020-05-18T15:19:34","modified_gmt":"2020-05-18T23:19:34","slug":"baum-realty-group-closes-sale-of-chicago-retail-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/baum-realty-group-closes-sale-of-chicago-retail-asset\/","title":{"rendered":"Baum Realty Group Closes Sale of Chicago Retail Asset"},"content":{"rendered":"

By Ioana Neamt<\/em><\/p>\n

\"The<\/a>

The Granville, Chicago<\/p><\/div>\n

Chicago<\/strong>\u2014The Baum Realty Group LLC<\/a> of Chicago recently completed the sale of a 31,920-square-foot, ground-floor retail space in the Windy City\u2019s Edgewater neighborhood.<\/p>\n

A Baum Investment Sales Team led by brokers Danny Spitz and Patrick Forkin represented the seller in the $14.1 million transaction. The ground-floor retail space at The Granville was sold to a private East Coast investor.<\/p>\n

\u201cIn today\u2019s investment environment, a stable grocery-anchored retail asset in an urban setting like The Granville yielded a tremendous amount of interest which helped us achieve an aggressive cap rate for the seller,\u201d Spitz said in a prepared statement.<\/p>\n

\u201cWe\u2019ve seen a large increase in retail tenants in Edgewater over the past two years, and we expect the momentum to continue, in large part due to the ongoing expansion of the Loyola University Campus,\u201d added Forkin.<\/p>\n

The fully leased property is anchored by an ALDI grocery store, alongside four other tenants, and also includes 106 covered parking spaces. All five tenants have signed triple-net leases at the site, providing passive income for the investor.<\/p>\n","protected":false},"excerpt":{"rendered":"

The ground-floor retail space at The Granville in Chicago’s Edgewater area recently changed owners.<\/p>\n","protected":false},"author":192,"featured_media":1004144366,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,13,21742,21749],"tags":[],"class_list":["post-1004144365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-midwest","category-latest","category-retail"],"acf":[],"yoast_head":"\nBaum Realty Group Closes Sale of Chicago Retail Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/baum-realty-group-closes-sale-of-chicago-retail-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Baum Realty Group Closes Sale of Chicago Retail Asset\" \/>\n<meta property=\"og:description\" content=\"The ground-floor retail space at The Granville in Chicago's Edgewater area recently changed owners.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/baum-realty-group-closes-sale-of-chicago-retail-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-20T09:17:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T23:19:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/baum-group.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"276\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/baum-realty-group-closes-sale-of-chicago-retail-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/baum-realty-group-closes-sale-of-chicago-retail-asset\/\",\"name\":\"Baum Realty Group Closes Sale of Chicago Retail Asset - 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