Inland Real Estate Commercial Brokerage, Inc. Closes Out Year With Three Successful Chicagoland Sales

Oak Brook, Ill. – Inland Real Estate Commercial Brokerage, Inc. (“Inland Commercial Brokerage”) announced the sales of three suburban Chicagoland commercial real estate properties, including two multifamily properties and one retail shopping center. Paul Montes and Eric Spiess, senior vice presidents of Inland Commercial Brokerage, facilitated the sales of all three properties. “We were pleased to close these three transactions in the last 15 days of the year, and look forward to taking that momentum into 2022,” said Montes. “Our team proved that even among the challenges over the past couple of years, our pipeline of properties and sales has not slowed and 2021 was another excellent year for our clients.”

The three sales included:

• A three-story, stand-alone, 12-unit multifamily building at 3745 Ruby Street in Schiller Park. The property was built in 1963 and consists of six one-bedroom/ one-bath units, six two-bedroom/one-bathroom units, 13 surface parking spaces, owner-operated laundry facilities and private patios or balconies. Area amenities include easy access to Interstate 294 and 94 and the Village Metra Rail Commuter station, with proximity to O’Hare International Airport. Additional near by features include an ice arena, water park, golf course, hiking woods, Rivers Casino, the Chicago Dogs baseball team, an array of restaurants and the Fashion Outlets of Chicago.
• A six-unit multifamily building at 562 Pershing Avenue in Glen Ellyn. Built in 1962, the property consists of four two-bedroom and two one-bedroom/one-bathroom apartments, eight private surface parking spaces and owner-operated coin laundry machines. Ideally located in central DuPage County, the property is with in proximity to the Yorktown Center shopping mall, restaurants, College of DuPage, Midwestern University, nature centers, The Morton Arboretum, and provides residents easy access to I-88 and I-355.
• An 18,000-square-foot shopping center located at 1728 Ogden Avenue in Downers Grove. Tenants include a restaurant, spa and a local convenience store. Located in a highly trafficked corridor of Ogden Avenue, the property sits on a 1.11-acre lot and offers substantial parking for shoppers and employees. Area retailers include Wannamaker’s, Packy-Webb Ford, Bill Kay Nissan, Jewel-Osco, Walgreens and a number of restaurants including Chipotle and Steak n’ Shake.

“All of these Chicagoland properties provided attractive features, including accessible locations, below market rents and well-maintained, easy-to-lease buildings with value-add potential,” commented Spiess. “We continue to look for and market a variety of commercial real estate assets, including retail, multifamily, industrial, vacant land, affordable housing and self-storage properties.”