Retail Midwest

Inland Real Estate Brokerage & Auctions Inc. closes on two suburban Chicago properties

Inland Real Estate Brokerage & Auctions Inc. has announced the sales of the Oak Lawn Town Center, a retail center in Oak Lawn, for $3.26 million, and development land in Oswego for $1.75 million.

Inland Real Estate Brokerage & Auctions Inc. has announced the sales of the Oak Lawn Town Center, a retail center in Oak Lawn, for $3.26 million, and development land in Oswego for $1.75 million.

Oak Lawn Town center is a 12,506-square-foot retail center located on 95th Street in Oak Lawn. The center’s long-term tenants include Starbucks, Smash Burger, Potbelly’s and Qdoba.

Richard Kehoe, senior vice president, and Robert Wall, senior broker, both of Inland Real Estate Brokerage & Auctions Inc., represented the seller and procured the buyer as well.

“Located on an active commercial and retail street, Oak Lawn Town Center proved to be an excellent fit for our buyer,” Kehoe said. “We were pleased to close this sale and promote this strong retail and commercial sector of Oak Lawn.”

The second completed sale involved a 110-acre tract of development land located on Route 34 just west of Orchard Road in Oswego.  Formerly the site of the Oswego Dragstrip, the site is now zoned to support development of single family, multifamily and commercial properties.  The property is located near Edward Urgent Care and the Jewel anchored Marina Shopping Center.

“The attractive development mix and favorable location were positive factors that led to multiple offers,” said Heather Devermann, executive broker associate for Inland Real Estate Brokerage & Auctions Inc. “The purchaser saw this as a great opportunity to expand into a growing residential and retail corridor.”

Devermann represented the seller in the sale of the property while Matt Ishikawa of CBRE represented the buyer.