CHICAGO-A Chicago real estate firm has made its first purchase in its hometown. A subsidiary of L3 Capital LLC purchased four retail properties spanning nearly 17,000 square feet on Southport Avenue in Lakeview for $13 million. The L3 venture purchased the properties from a fund controlled by Chicago-based JAB Real Estate.

The properties are located at 3550-56 N. Southport Ave., 3447-49 N. Southport Ave., 3442-46 N. Southport Ave. and 3430 N. Southport Ave. Kyle Stengle from Marcus & Millichap’s Chicago office represented the sellers. For the full story, go to Crain’s Chicago Business . News Hub is your link to relevant real estate and business stories from other local, regional and national publications.