July 12, 2019 Comments Off on Park Forest Retail Trades in Opportunity Zone Views: 897 Chicago News, Greater Chicagoland

Park Forest Retail Trades in Opportunity Zone

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Matanky Realty Group’s Terri Cox and Don Wagener have closed on the sale of Orchard Park Plaza, a 102,647-square-foot shopping center in downtown Park Forest, IL. The 13.99-acre property, which includes undeveloped land, is located within an Opportunity Zone.

Freedom Development Group purchased the three-building retail asset for an undisclosed price. Orchard Park Plaza includes a fully equipped grocery store and an auto repair center, and is anchored by Family Dollar.

“The buyer has enormous opportunity in leasing the remaining vacancies and developing the additional acreage acquired in the sale,” said Cox, who represented the seller. “With over 142,000 people within five miles of the property, this is a phenomenal purchase. We look forward to the future for the center.”

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