Retail N Illinois

Huntley shopping center sells in off-market deal

Huntley shopping center sells in off-market deal,ph1

The approximately 9,000-square-foot retail investment property, Huntley Shops, at 12030-12090 Princeton Drive in Huntley, Illinois sold for $3,060,000 in an off-market sale. Jennifer Hopkins and Olivia Czyzynski of SVN Chicago Commercial represented the seller while Carolyn Michaels of Chicago Metro Realty represented the buyer.

The property was initially available for lease with the intention of bringing the property to the market for sale after the space was filled. However, Hopkins and Czyzynski were able to source an off-market buyer and negotiated successful terms for the sale of this property. The property sale closed after 45 days under contract.

“Buyers continue to seek add-value opportunities in the retail sector; this transaction made sense for both parties,” Hopkins said. The property is home to several national and regional tenants including Dunkin Donuts, Papa Saverio’s Pizza, Hair Cuttery, H&R block, Cell Phone Repair (CPR) and one vacancy.