{"id":1004195215,"date":"2017-10-27T03:13:10","date_gmt":"2017-10-27T11:13:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004195215"},"modified":"2022-12-08T06:08:33","modified_gmt":"2022-12-08T14:08:33","slug":"il-retail-property-gets-new-owner-after-30-years","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/il-retail-property-gets-new-owner-after-30-years\/","title":{"rendered":"IL Retail Property Gets New Owner After 30 Years"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004195216\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/1020-E.-Golf-Road-Schaumburg-Ill..png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004195216\" data-attachment-id=\"1004195216\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/il-retail-property-gets-new-owner-after-30-years\/1020-e-golf-road-schaumburg-ill\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/1020-E.-Golf-Road-Schaumburg-Ill..png\" data-orig-size=\"800,620\" 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=\"1020 E. Golf Road, Schaumburg, Ill.\" data-image-description=\"&lt;p&gt;1020 E. Golf Road, Schaumburg, Ill.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;1020 E. Golf Road, Schaumburg, Ill.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/1020-E.-Golf-Road-Schaumburg-Ill..png?w=800\" loading=\"lazy\" class=\"wp-image-1004195216 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/1020-E.-Golf-Road-Schaumburg-Ill..png\" alt=\"1020 E. Golf Road, Schaumburg, Ill.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/1020-E.-Golf-Road-Schaumburg-Ill..png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/1020-E.-Golf-Road-Schaumburg-Ill..png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/1020-E.-Golf-Road-Schaumburg-Ill..png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004195216\" class=\"wp-caption-text\">1020 E. Golf Road, Schaumburg, Ill.<\/p><\/div>\n<p>Baum Realty Group closed on the $6.3 million\u00a0sale of a retail property in Schaumburg, Ill. The 4.8-acre site, located at 1020 E. Golf Road, was owned by the same local investor for more than 30 years and is leased to a Hyundai dealership.<\/p>\n<p>\u201c<em>The property featured under-market rent providing a potential opportunity for an owner to increase its value by re-tenanting the property at market-level rent at the end of the lease term,<\/em>\u201d said Baum Vice President Patrick Forkin, the seller\u2019s broker, in prepared remarks.<\/p>\n<p>The\u00a0Golf Road asset represents\u00a0one of the several <a href=\"https:\/\/www.commercialsearch.com\/news\/baum-realty-tapped-to-market-downtown-chicago-site\/\">Illinois retail properties<\/a>\u00a0within key areas in the Chicago metro that Baum Realty has\u00a0helped trade in the past six months. It is located half a mile west of one of the largest retail shopping centers in Illinois, Woodfield Mall. The area surrounding the property provides more than 10 million square feet of retail and 20 million square feet of office space. \u00a0<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property is located half a mile from one of the largest retail shopping centers in Illinois, Woodfield Mall. The deal closed at $6.3 million.<\/p>\n","protected":false},"author":1064,"featured_media":1004195216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,13,21742,21749],"tags":[33119,32920,35342],"class_list":["post-1004195215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-midwest","category-latest","category-retail","tag-baum-realty-group","tag-hyundai","tag-patrick-forkin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IL Retail Property Gets New Owner After 30 Years - 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\/il-retail-property-gets-new-owner-after-30-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IL Retail Property Gets New Owner After 30 Years\" \/>\n<meta property=\"og:description\" content=\"The property is located half a mile from one of the largest retail shopping centers in Illinois, Woodfield Mall. 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