CHICAGO-Sterling Organization has sold a three-fourth acre outparcel occupied by Bank of America at Sterling-owned Hawthorne Works Shopping Center in the Chicago suburb of Cicero for $3.378 million. The sale cap value of the property was 6.25%.
Sterling Organization bought the 300,000-square-foot property situated at 4779 W. Cermak Road in August 2009. The center is currently 97% leased. A Sterling entity was represented by Stan Johnson Company's Brandon Duff in the deal. For the full story, go to Florida Real Estate Journal.
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