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Private Schaumburg Investor Picks Up Shopping Center for $3.6M

CHICAGO—A private investor, based in Schaumburg, Ill., purchased a multi-tenant, 44,597-sq.-ft. shopping center in Shorewood, Ill. for $3.6 million from a Minneapolis, Minn.-based developer. Chad Firsel of Quantum Real Estate Advisors Inc. completed the sale working on behalf of both the buyer and the seller.

Located at Route 59 and Vertin Boulevard, the property includes tenants such as HomeGoods, Payless, Sally Beauty Supply, Cold Stone Creamery, Great Clips, Manpower and Wine Styles.

“It is arguably one of the best positions in this market, being anchored by a Target Greatland and next to many other big box tenants,” said Firsel. “Considering the excellent visibility and newer institutional type construction, this property will yield a return for many years to come.”

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