Chicago – Baum Realty Group, LLC (“Baum”), has announced the sale of Randall Crossing, a two-building retail property in the Chicago suburb of Algonquin. The 27,521 square foot project is located at 2503 - 2535 N. County Line Road.
The investment represents a value-add opportunity given the center is just 67% occupied. Baum’s Investment Sales Team, Greg Dietz, Danny Spitz and Ben Brichta represented the seller. Baum procured an out of state investor and the deal closed just 25 days after contract execution. The team was able to attain numerous competitive purchase offers within two weeks of marketing the opportunity. According to Baum Vice President, Greg Dietz, “market participants desiring value-add deals with quality construction and location have very little from which to choose.”
The property’s tenants include Men’s Warehouse, Eye Boutique, T-Mobile and Great Clips. Randall Crossing is shadow anchored by Algonquin Commons, a major lifestyle center.
“The sale of Randall Crossing is representative of Baum’s ability to both market and price real estate investment product effectively” added Dietz.
Baum Investment Sales Team members are experts in representing retail and mixed-use properties in the Chicago metro area. In addition to the sale of Randall Crossing, they recently sold 1733 - 35 N. Damen Avenue (100% leased two-tenant retail building in Bucktown) for $2.9 million, a mixed-use project, MCM Plaza (1500 - 20 N. Damen Avenue) for $13.2 million and a two-building mixed use portfolio in River North for $7.3 million.
Baum Realty Group is one of the Midwest’s premier retail real estate firms, serving the retail community since 1991. Baum provides comprehensive Tenant Representation, Third-Party Landlord Leasing and Investment Sales services. The company represents a diversified clientele of top property owners as well as prestigious national, regional and local tenants.