Podolsky Circle CORFAC International announced the sale of 1820 Ridge Road in Homewood, Illinois. The Podolsky Circle middle market investment advisory team comprised of managing principal Alissa Adler, principal John Homsher, CCIM, and senior vice president Paul Tesdal, represented the seller, Husky Lake Acquisition I, LLC, in the transaction. The property was sold to AM Realty Management for $800,000.
Leading up to the sale, Podolsky Circle’s management and leasing teams successfully increased occupancy at 1820 Ridge Road from 15 to 95 percent by implementing a multi-year capital improvement and strategic marketing plan. The current tenant roster includes a diverse group of users including healthcare, financial and legal service providers.
“The successful disposition of 1820 Ridge Road truly was a collaborative endeavor between our client and our leasing, management and sales teams,” said Homsher. “Due to our knowledge of the market and synergetic efforts, our team was able to increase occupancy by 80 percent in a challenging leasing market.”
The three-story, 47,311-square-foot, multi-tenant office property features covered parking and a conferencing facility. Conveniently situated across from Irwin Park in downtown Homewood, the property benefits from its close proximity to I-80, I-94, I-294, I-394, I-57 as well as being a short distance to the downtown Homewood shops and Metra station.