Mid-America Real Estate Corporation’s Investment Sales Group brokered the sale of Oak Forest Commons, a value-add shopping center in the Chicago suburb of Oak Forest, Illinois.
The 115,754-square-foot center was sold to First Tek.
Oak Forest Commons presents the opportunity for ownership to lease up grocer space formerly occupied by Food 4 Less. The area surrounding Oak Forest Commons features a dense, upper middle-income demographic profile. The community within a three-mile radius of the subject contains a population of nearly 81K with average household incomes of over $94K.
Mid-America Real Estate Corporation Principals Rick Drogosz, Ben Wineman, and Joe Girardi were the exclusive brokers in the transaction on behalf of IRC Retail Centers/DRA Advisors. The property was managed by Pine Tree.
