Greenstone Partners successfully sold the retail center located at 8800-8820 Gross Point Road in Skokie, Illinois. The 19,000-square-foot property has strong historical occupancy and a mix of national tenants that have successfully operated at the property for 10+ years including FedEx Office and Dunkin’. The roster of internet-resistant tenants includes restaurants/coffee, personal services and health/wellness.
Ownership embarked on a complete building renovation in 2009 which included a new facade, roof, parking lot and electrical/mechanical/plumbing. Premier demographics with household incomes exceeding $120,000 also contributed to an attractive level of value, rare in today’s marketplace that will provide investment stability for years to come.
Greenstone Partners procured several competing purchase offers while represented the seller, a Chicago-based private investor. Greenstone also procured the buyer.
