Mark Heidecke of Horvath & Tremblay has successfully completed the sale of 191 W North Ave in West Chicago, Illinois. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $1,250,000. 191 W North Avenue is a 12,200-square-foot retail center located in West Chicago, Illinois. The one-story building contains four retail suites and is occupied by Perseverance Pilates, State Farm Insurance and Covid Solutions. Perseverance Pilates has four-plus years remaining on their lease, State Farm Insurance has just exercised a three-year renewal option, demonstrating their commitment to the site and the market, and Covid Solutions has a month-to-month lease. The center offers significant upside through the lease up of the 1,373-square-foot vacant suite and re-tenanting the 6,708-square-foot Covid-Solutions space with a new tenant on a long-term lease at market rents. The property has been well maintained and is well positioned adjacent to the signalized intersection of W North Avenue (IL Route 64) and N Neltnor Boulevard (IL Route 59), the area’s primary commercial and commuter corridors. The property is across the street from Menards, Starbucks and Popeyes and is further surrounded by additional national retailers and restaurants, all of which drive traffic to the immediate area. The property is within three miles of the DuPage Airport, the West Chicago Train Station, and several large office and industrial corridors.
Mark Heidecke also completed the sale of Central Square Plaza in Rolling Meadows, Illinois. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $930,000. Central Square Plaza is a retail property located at 1910-1990 W Central Road in Rolling Meadows, Illinois. The one-story building contains 5,625 square feet on a 0.50-acre corner parcel of land. The property is 77.78% leased to Subway, McKleen Cleaners, and Chopsticks and has a 1,250-square-foot vacant unit. Both Subway and Chopsticks have several years remaining on their leases with scheduled annual rent increases. The property offers upside through the lease-up of the 1,250 square foot vacant end-cap unit. The property is well located at the signalized intersection of New Wilke Road and Central Road, the area’s primary commercial corridor, and enjoys convenient access to IL Routes 53 and 62, as well as Interstates 90 and 290. The Property is less than one mile from Rolling Meadows High School, Carl Sandburg Junior High School and several other area schools and is surrounded by densely developed residential neighborhoods providing a built-in customer base for the property. Additionally, Central Square Plaza is 0.5 miles from the Northwest Community Healthcare Hospital, a 489-bed acute care hospital, and is three miles from a densely developed retail and industrial corridor that lies at the junction of Interstates 90 and 290.
