December 16, 2019
Avison Young recently completed the $1.225-million sale of a 6,510-square-foot multi-tenant retail property at 17925 S. Halsted St. in Homewood, IL. The firm’s Los Angeles-based Chris Maling and David Maling handled the assignment.
Maling and Maling represented the seller, a special servicer from California, as well as the buyer, Robert Rivani with Black Lion Investment Group, a value-add entrepreneurial investor from California.
“This was a prime opportunity for an investor to secure a cash-flowing asset in a suburban location near the Chicago MSA,” said Chris Maling. “The buyer plans to add value by leasing up the vacancy and operating the asset to grow the net operating income.”
Built in 2005 and situated on 0.49 acres, the property is 92% occupied. It’s part of a larger center which includes nationally-recognized retailers, including Home Depot, Walmart, Kohl’s, Menards, Jo-Ann Fabrics, Office Max, T.J. Maxx, Best Buy and Starbucks, among others.
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