Inland Real Estate Brokerage & Auctions marks strong start to 2014 with multiple Chicago-area sales, listings

February 06, 2014  |  Staff Writer  |  Print Article  |  Email this Article

Salem Walk

Salem Walk Apartments

Inland Real Estate Brokerage & Auctions Inc. has announced the sale of several Chicago-area properties and the listing of Eastgate Shopping Center, an active neighborhood retail center in Lombard.

Richard Kehoe, vice president, and Paul Rogers, president, both of Inland Brokerage & Auctions, are representing the seller for the newly listed Eastgate Shopping Center. The 130,000-square-foot center has development potential with a 10-acre site and the current tenant mix includes Ace Hardware, State of Illinois, 7-Eleven and L.A. Tan.

Kehoe represented the seller in the sale of Golf Road Plaza, located in Niles, for $3.3 million. The 25,992-square-foot, seven-unit retail strip center went under contract within 45 days of the listing date. This highly visible retail center has ample parking and a tenant mix that includes Auto Zone, L.A. Tan, H & R Block and Discount Mattress.

Robert Edmiston, vice president of Inland Brokerage & Auctions, represented the seller in the sale of a brick six-unit apartment building located within the Salem Walk Apartments in Northbrook. The property, which sold for $550,000, consists of five two-bedroom units and a single one-bedroom unit.

Paul Montes, executive broker associate, and Eric Spiess, senior broker associate, both of Inland Brokerage & Auctions, represented the seller in the sale of a vacant industrial building, located in Broadview, for $330,000. The 25,478-square-foot building consists of four docks and office, warehouse and production areas, and provides 14-foot ceilings and ample parking.

The fourth completed sale involved a 9.5-acre tract of development land located on North Avenue in West Chicago. The site, which sold for $100,000, is zoned commercial with all utilities to site. The property is located just minutes from the North Avenue/Route 59 corridor. Rogers and John Hanson, senior broker of Inland Brokerage & Auctions, represented the seller in the sale of the property.

“We are experiencing a substantial increase in real estate market activity, including the sale of multifamily and retail centers that are selling very quickly at and or very near the offering price,” Rogers said. “Farm land is in huge demand and is trading at near record prices per acre. Our sales for 2013 were up 289 percent from 2012, so from our perspective, the market is back in a big way.”

© 2014 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or menzies@rejournals.com

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