Ohio-Based Investment Firm Acquires 19,000-Square-Foot Retail Center In Skokie For $3.875M

The asset involved in the transaction is a retail center located at 8800-8824 Gross Point Road in Skokie, Illinois. The sale price of the property was $3,875,000. The retail center encompasses a total of 19,000 square feet and was sold at a price per square foot of $204. At the time of the sale, the property was 67% occupied, providing potential for increased returns through leasing of 6,000 square feet of vacant space.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,875,000
• Address: 8800-8824 Gross Point Road
• Market: Skokie
• Square Footage: 19,000
• Price per Square Foot: $204
• Occupancy: 67%
• Vacant Space: 6,000 square feet

The transaction was brokered by Brewster Hague and AJ Patel from Greenstone Partners. They facilitated the sale to an investment firm based in Ohio, offering a value-add opportunity in a supply-constrained suburban market.