Inland Real Estate Brokerage & Consulting, Inc. Closes on Chicago Retail Assemblage for Redevelopment
Oak Brook, Ill. – Inland Real Estate Brokerage & Consulting, Inc. (“Inland Brokerage & Consulting”) announced today the successful sale and closing of four parcels, comprised of two retail properties, one single-family home and one land parcel, located near the signaled corner intersection of Archer Avenue and Harlem Avenue in Chicago’s southwest Garfield Ridge community.
All of the properties sold will be redeveloped to make way for an Aldi-anchored retail center. The assemblage will provide the requisite area for Aldi and the new retailers. In addition, the approval process included a beautification component in order to provide an inviting look for the influx in pedestrian traffic.
“The vision for this project began in early 2015, and due to the complexity of this assemblage, it took well over a year to complete,” said William Dozier, Jr., broker associate for Inland Brokerage & Consulting. “The development group, JAMA LLC, Alderman Michael Zalewski, the local community chamber of commerce and our clients, the property owners and tenants, all worked diligently together to make this possible for the Garfield Ridge community.”
“This is truly a win-win for the sellers, buyer, City of Chicago and the Garfield Ridge community,” said Paul Rogers, president of Inland Brokerage & Consulting. “Our engagement started with a single parcel offering and we added additional neighboring parcels to create a large enough footprint for an exciting retail development. Bottom line, the Garfield Ridge neighborhood gets a grocery-anchored retail development for the betterment of the community while creating significant value for all parties involved.”
About Inland Real Estate Brokerage & Consulting, Inc.
Inland Real Estate Brokerage & Consulting, Inc. is a boutique brokerage and consulting firm providing real estate services and solutions with sales/leasing, exchanges, appraisal and advisory services for private, public and institutional owners and managers of commercial and investment real estate. For more information, visit www.inlandbrokerage.com.
October 31, 2016
Inland Marketing & Communications, Inc.
(630) 218-8000 Ext. 2887