HSA Commercial had managed and leased the property at 224 N. Des Plaines Ave. HSA remodeled and re-leased the property, now 100% occupied. Tenants include RadioWave.com, Kerasotes Theatres and Volunteers of America.
"Our goal for this property was to maximize the building's value on the market," says HSA senior vice president Wayne Shulman. "Rather than sell the building immediately when it was virtually vacant, we put extensive effort into re-leasing the building with solid, viable tenants and substantial leases. Once the building was fully leased we felt that quality owners like Investors Equities would act quickly to acquire a building of this nature."
Financing was obtained from LaSalle Bank, which holds a $7.3-million mortgage.
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