HIGHLAND PARK, IL—City officials here have approved an agreement with @properties Commercial to handle the brokerage the Highland Park Theater property, located at 441-447 Central Avenue.

“We look forward to working closely with @properties as they market this important property in Downtown Highland Park. This partnership will allow the city to collaborate with professionals to find a thoughtful and fiscally responsible solution for the theater property,” said mayor Nancy Rotering. In addition she stated, “the sale of the property has been and will continue to be transparent. As with any redevelopment, this property will require a review that will include public input; planning and design review as required by the City zoning and planned development process.”

The city purchased the theater property in 2009 for $2.1 million and the it includes two existing retail tenants within 441 and 447 Central Avenue, each occupying approximately 750 square feet of the 18,365 square foot building. The theater was closed in May 2012 following an independent fire inspection for life safety reasons.

@properties was authorized to market the property, “as is”, along with an adjacent parking lot property as part of the revitalization or redevelopment of the theater property, provided that there is no net loss of public parking. @properties was chosen following a rigorous Request For Proposal and interview process based on the company's proactive approach, transparent process, comprehensive marketing plan and broad base of resources.

The City purchased the theater property in 2009 for $2.1 million and the it includes two existing retail tenants within 441 and 447 Central Avenue, each occupying approximately 750 square feet of the 18,365 square foot building. The theater was closed in May 2012 following an independent fire inspection for life safety reasons.

Interested parties can find more information on the theater, at www.cityhpil.com/theater. Those interested in making an offer on the property can contact Dan Stratis, of @properties Commercial Division at (312) 506-0250.

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Broker Chosen for Highland Park Theater

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