Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Thatcher Woods Center, a 86.9% leased food and drug anchored asset in the densely populated inner-ring Chicago suburb of River Grove, Illinois. The 192,611-square-foot property was sold to East Coast Acquisitions.
Thatcher Woods Center features a complimentary necessity-based tenant mix including Rich’s Fresh Market, Walgreens, and Binny’s Beverage Depot. The center sits on the border of Chicago’s city limits (15 miles from downtown Chicago) and benefits from the dense neighborhoods in the surrounding area. There are currently 204k residents within a 3-mile radius of the property, and within a 5-mile radius the population increases to over 600k residents.
Mid-America Real Estate Corporation Principal Rick Drogosz and Principal/Managing Broker Ben Wineman were the exclusive brokers in the transaction on behalf of the seller, IRC Retail Centers/DRA Advisors. The property was managed by Pine Tree.
About Mid-America Real Estate
Mid-America Real Estate is the largest regional retail property services firm in the Midwest. The organization’s exclusive focus on retail real estate, combined with cutting-edge technology and unsurpassed service, distinguishes Mid-America within the industry and provides clients with a competitive edge. The company manages and leases 42 million square feet of retail space, and represents over 270 retailers. Mid-America’s Investment Sales Group represents clients in the sale of retail properties throughout the greater Midwest region. The Investment Sales Group’s strategic approach combines outstanding national exposure with the best local knowledge, resulting in the successful disposition of over $12.15 billion to date. For more information, visit www.midamericagrp.com.
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