{"id":1004171366,"date":"2017-04-05T03:06:11","date_gmt":"2017-04-05T11:06:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004171366"},"modified":"2022-12-07T23:03:08","modified_gmt":"2022-12-08T07:03:08","slug":"chicago-retail-center-sells-for-24m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/chicago-retail-center-sells-for-24m\/","title":{"rendered":"Chicago Retail Center Sells for $24M"},"content":{"rendered":"<p>By Evelina Croitoru<\/p>\n<p><iframe loading=\"lazy\" title=\"Archer Station Chicago, IL -LAF and Ross Anchored (Drone Video)\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/8uWc3OUQnoI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>Investment brokerage firm The Boulder Group has completed the sale of Archer Station, a shopping center located in Chicago. The 69,820-square-foot property traded for $24 million. President Randy Blankstein and Partner Jimmy Goodman of The Boulder Group represented both the seller and the buyer.<\/p>\n<p>Located at 2620-2640 W. Pershing Road, the retail center was fully leased at the time of the deal to LA Fitness, Ross Dress for Less, AT&amp;T Wireless and Athletico Physical Therapy. The property is a green development and includes features such as permeable pavers in the parking lots. Additionally, all of the buildings have been completed to a higher energy efficiency level. The center offers convenient access to Interstate 55, the primary artery linking Chicago to its southwest suburbs.<\/p>\n<p>The LA 15-year lease is set to expire in February 2031. The lease has 10 percent rental escalations every five years throughout the primary term and in each of the four 5-year renewal option periods. Ross Dress for Less inked a 10-year lease in December 2016. The lease features a 10 percent rental escalation in the sixth year. AT&amp;T signed a new 7-year lease with a 10 percent rental escalation in the sixth year. Athletico executed a 7-year lease with a 5.9 percent rental escalation in the fifth lease year.<\/p>\n<p><em>Video courtesy of The Boulder Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Archer Station is fully leased to a tenant roster including Ross Dress for Less, LA Fitness, AT&amp;T Wireless and Athletico Physical Therapy.<\/p>\n","protected":false},"author":1055,"featured_media":1004171375,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,13,21742,21749,21794],"tags":[33840,33428,32940],"class_list":["post-1004171366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-midwest","category-latest","category-retail","category-videos","tag-jimmy-goodman","tag-randy-blankstein","tag-the-boulder-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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