{"id":1004169529,"date":"2017-03-16T05:04:06","date_gmt":"2017-03-16T13:04:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004169529"},"modified":"2022-12-08T09:22:23","modified_gmt":"2022-12-08T17:22:23","slug":"baum-completes-sale-of-chicagoland-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/baum-completes-sale-of-chicagoland-building\/","title":{"rendered":"Baum Completes Sale of Chicagoland Building"},"content":{"rendered":"<p>By Laura Calugar<\/p>\n<div id=\"attachment_1004169534\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1223Oakton-Rendering.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004169534\" data-attachment-id=\"1004169534\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/baum-completes-sale-of-chicagoland-building\/1223oakton-rendering\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1223Oakton-Rendering.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1223Oakton-Rendering\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1223Oakton-Rendering.jpg?w=1000\" class=\"wp-image-1004169534 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1223Oakton-Rendering.jpg\" alt=\"The property occupied by the US Bank and Verizon in Des Plaines, Ill.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1223Oakton-Rendering.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1223Oakton-Rendering.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1223Oakton-Rendering.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004169534\" class=\"wp-caption-text\">The property occupied by US Bank and Verizon in Des Plaines, Ill.<\/p><\/div>\n<p><strong>Des Plaines, Ill.<\/strong>\u2014Baum Realty Group recently announced that its investment sales team completed the sale of a fully occupied strip center in Chicago\u2019s Des Plaines suburb for $4 million. US Bank and Verizon Wireless are the current tenants of the property. Baum represented the seller, a local investment group, in the 1033 exchange. The buyer is a local investor.<\/p>\n<p>Located at 1223 E. Oakton St., the asset houses nearly 9,700 square feet on 1 acre, with customer parking located on a signalized corner seen by more than 53,500 vehicles per day. The property is less than 2 miles from O\u2019Hare International Airport.<\/p>\n<p>\u201cThe recognizable tenancy, recent building renovation and minimal landlord responsibilities associated with the property were attractive to a large nationwide net-lease investor pool that created a competitive bidding landscape. Ultimately, a local investor who is familiar with the Chicago MSA and Des Plaines market purchased the asset,\u201d said Baum Managing Director Greg Dietz, in a prepared statement.<\/p>\n<p>US Bank has occupied the space for more than 20 years and recently executed a lease extension. Additionally, Verizon also signed a new seven-year lease.<\/p>\n<p><em>Image courtesy of Baum Realty Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The brokerage firm closed the $4 million sale of a Des Plaines property occupied by US Bank and Verizon. <\/p>\n","protected":false},"author":238,"featured_media":1004169534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21783,13,21742,21749],"tags":[33119,33008],"class_list":["post-1004169529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-investment","category-midwest","category-latest","category-retail","tag-baum-realty-group","tag-verizon-wireless"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Baum Completes Sale of Chicagoland Building - 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-completes-sale-of-chicagoland-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Baum Completes Sale of Chicagoland Building\" \/>\n<meta property=\"og:description\" content=\"The brokerage firm closed the $4 million sale of a Des Plaines property occupied by US Bank and Verizon.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/baum-completes-sale-of-chicagoland-building\/\" \/>\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=\"2017-03-16T13:04:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T17:22:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1223Oakton-Rendering.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura Valean\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/baum-completes-sale-of-chicagoland-building\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/baum-completes-sale-of-chicagoland-building\\\/\"},\"author\":{\"name\":\"Laura Valean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/2f8b737fce677cc406c08a2c29c1ff38\"},\"headline\":\"Baum Completes Sale of Chicagoland Building\",\"datePublished\":\"2017-03-16T13:04:06+00:00\",\"dateModified\":\"2022-12-08T17:22:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/baum-completes-sale-of-chicagoland-building\\\/\"},\"wordCount\":213,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/baum-completes-sale-of-chicagoland-building\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/03\\\/1223Oakton-Rendering.jpg\",\"keywords\":[\"Baum Realty Group\",\"Verizon Wireless\"],\"articleSection\":[\"Chicago\",\"Deals\",\"Investment\",\"Midwest\",\"News\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/baum-completes-sale-of-chicagoland-building\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/baum-completes-sale-of-chicagoland-building\\\/\",\"name\":\"Baum Completes Sale of Chicagoland Building - 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