CHICAGO, IL—Cannon Commercial Management has sold Jeffrey Plaza, a 113,303-square-foot retail center at 7131 S. Jeffrey Blvd. in Chicago to Local Market by Shop and Save.
Keely Polczynski of CBRE represented Cannon in the sale.
Shop and Save purchased the property, located in Chicago’s densely populated South Shore neighborhood bordering Hyde Park, and will fill the anchor space that was vacated by Dominick’s. The property has maintained all its small-scale retailers, demonstrating its strength. The property has long-term leases with Chase, H&R Block, Papa John’s and others.
The South Shore neighborhood has benefited from positive activity lately.
The Obama Presidential Library, opening in 2020, is expected to attract tourists and local residents to the South Shore/Hyde Park neighborhood.
“This is a fantastic opportunity for Shop and Save to anchor an important retail center in a dense, well established and burgeoning south Chicago neighborhood that will welcome a quality food establishment that offers fresh produce, meats and other daily necessities,” says CBRE’s Polczynski.