CRE N Illinois

CRER brokers five Chicagoland transactions

4502-04 W. Irving Park Road, Chicago. 4502-04 W. Irving Park Road, Chicago.
951 W. Armitage Avenue, Chicago. 951 W. Armitage Avenue, Chicago.
10 S. Randall Road, Algonquin, Illinois. 10 S. Randall Road, Algonquin, Illinois.

Chicago Real Estate Resources Inc (CRER) recently completed five real estate transactions in the Chicago area. The three sales and two lease deals concern properties in Chicago and the suburbs.

Timothy Keenan with CRER represented Aqueel Ahmed in the $2.6-million purchase of 39,000 square feet of land located at 1655 W. Fullerton Avenue in Chicago. Eric Janssen with CRER represented the seller. The purchaser plans to develop the land for commercial use in late 2020. Keenan also represented Ahmed in the $1.75-million purchase of a property located at 2300 W. Fullerton Avenue earlier this year and he has represented him in more than 10 other transactions over the last 10 years.

CRER’s Ashley Dillard and Steven Rapoport represented the seller, an out-of-state investor, in the $1,725,000 sale of an eight-pump gas station at 10 S. Randall Road, Algonquin, Illinois. The property features a 3,000-square-foot convenience store located on an approximately 40,000 site, at the southwest corner of Randall and Algonquin Road in the outlot of a high-traffic shopping center. The intersection is part of an improvement project widening Randell Road to six lanes and adding additional turn lanes at the intersection, making it a prime location.

Nate Gautsche with CRER represented the buyer in the $1,475,000 purchase of 951 W. Armitage Avenue in Chicago. This value-add, mixed-use building in Lincoln Park is less than 50 feet away from the Armitage Brown Line stop. The opportunity included four one-bedroom apartments above ground-floor commercial currently leased to Vosges Haut-Chocolat. This was a rare value-add opportunity in one of Lincoln Park’s premier streets.

Michael Weaver with CRER was the sole broker in a lease at 4502-04 W. Irving Park Road in Chicago’s Irving Park neighborhood—a 3,120-square-foot commercial storefront located in a mixed-use building. Weaver represented Prescott Logic Technologies, which provides detailed knowledge of the deconstruction and reconstruction of cannabis to maximize the plant’s therapeutic potential.

Weaver also negotiated a five-year, 1,380-square-foot lease for ARfit at 2070 N. Clybourn Avenue in Chicago. Located within The Foundry Retail Center in Lincoln Park, The site provides high visibility, plenty of parking and two full access points on busy Clybourn Avenue for the provider of physical therapy for dogs.

Guzel Lubinski with CRER represented tenant, Aristocrat Technologies, in leasing 8,714 square feet of industrial space at 1340 Internationale Parkway in Woodridge, Illinois. Aristocrat Technologies designs, manufactures and markets gaming machines and software. The unit offers high-end offices, painted warehouse walls/deck and great access to I-55 and I-355.