Ross Costume for Much less is considered one of Chestnut Court docket’s anchor tenants. Picture courtesy of Mid-America Actual Property
First-Tek Inc. has bought Chestnut Court docket, a 172,697-square-foot retail heart in Darien, In poor health. DRA Advisors offered the asset in a transaction organized by Mid-America Actual Property Corp., with Principals Rick Drogosz, Ben Wineman and Joe Girardi engaged on behalf of the vendor.
DRA Advisors had acquired Chestnut Court docket again in 1998 for $16.1 million, in accordance with CommercialEdge information. The property was a part of a multi-asset portfolio that was refinanced by means of a $835 million mortgage from Wells Fargo Financial institution. Pine Tree served as property supervisor on the time.
Accomplished in 1986, Chestnut Court docket includes two buildings on a 16.5-acre website. Ross Costume for Much less and Jo-Ann Material anchor the procuring heart; the tenant roster additionally features a numerous combine of shops reminiscent of The Salvation Military Household Retailer, T-Cell, Dwelling Run Inn Pizzeria and Kumon, amongst others.
Located on the intersection of Lemont Street and seventy fifth Avenue within the coronary heart of the “4 corners” retail commerce space, Chestnut Court docket has greater than 860,000 annual visits. The middle serves greater than 566,000 folks inside a 3-mile radius; the typical family earnings is greater than $130,000 within the space.
DRA Advisors has just lately offered one other suburban Chicago property, a 326,084-square-foot retail heart in Niles, In poor health. Mid-America’s Ben Wineman and Rick Drogosz brokered the $20.5 million transaction.
