Armco Properties Sells Retail Centers In Mokena And Woodridge For $6.8 Million

The transaction involved two strip centers located at 19102-19140 88th Avenue & 8258-8290 Janes Avenue in the Mokena and Woodridge markets. The properties were sold for a total of $6,800,000, encompassing a total square footage of 39,687, resulting in a price per square foot of $171. Both properties are fully leased, featuring long-term tenants, which adds stability to the investment.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $6,800,000
• Square Footage: 39,687
• Price per Square Foot: $171
• Address: 19102-19140 88th Avenue & 8258-8290 Janes Avenue
• Market: Mokena & Woodridge
• Seller: Armco Properties
• Broker: Peter Block & Rachel Patten - Colliers

Peter Block and Rachel Patten from Colliers represented the seller, Armco Properties, in this transaction. This sale marks the third successful transaction facilitated by Colliers for Armco Properties in the current year, underscoring the brokers' expertise in handling retail property sales.