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16101-16151 South Farrell Road

Brookline Real Estate Sells Lockport Square Retail Property In Lockport, IL For $9.95M

16101-16151 South Farrell Road

41,913 SF
clock iconSold 1 year ago
William (Bill) Lundy
Dominick Cannata
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41,913 sqft

Lockport Square, a retail property located at 16101-16151 S Farrell Road in Lockport, IL, has been sold for a price of $9,950,000. The property spans a total area of 41,913 square feet, resulting in a price of approximately $237 per square foot. The sale took place on 08/08/2022 and was facilitated by Brookline Real Estate, LLC, with Bill Lundy and Dominick Cannata serving as the seller's representatives.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $9,950,000
  • Address: 16101-16151 S Farrell Road, Lockport, IL
  • Market: Lockport, IL

Brookline brokers Bill Lundy and Dominick Cannata successfully attracted internet-resistant retailers, resulting in an increase in occupancy at Lockport Square from 40% to 95%. Their diligent efforts led to an aggressive marketing campaign, which ultimately culminated in the sale of the property for 96% of its asking price. The buyer, an out-of-state entity involved in a 1031 Exchange, acquired the property. In the process, Brookline Real Estate, LLC added substantial value to the asset, exceeding their client's initial purchase price by over 250%. It is worth noting that the new owner has chosen to retain Brookline's Leasing and Property Management services moving forward.


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William (Bill) Lundy's profile picture
William (Bill) Lundy
$19.9M Sold


Deal Summary
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IMAGE: Dominick Cannata & Bill Lundy DATE: 08/08/2022 ADDRESS: 16101-16151 S Farrell Road MARKET: Lockport, IL ASSET TYPE: Retail SELLER'S REP: Bill Lundy (@Wglundy9) & Dominick Cannata - Brookline Real Estate, LLC (@Brookline_Real_Estate) SALE PRICE: $9,950,000 SF: 41,913 ~ PPSF: $237 NOTE FROM SELLER'S REP: Please contact Brookline Real Estate, LLC (@Brookline_Real_Estate) with any questions regarding the sale. "Brookline brokers Bill Lundy and Dominick Cannata were able to procure strong, internet-resistant retailers to bring Lockport Square from 40% occupancy to 95%. After an aggressive marketing campaign, Lockport Square was sold for 96% of its asking price to an out-of-state, 1031 Exchange buyer. Since taking over the project, Brookline has added over $6,000,000 in value, selling the asset for over 250% of their client's purchase price. The new owner has opted to retain Brookline's Leasing and Property Management services."

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Address16101-16151 South Farrell Road


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