CHICAGO- Paragon Real Estate, an Oak Brook-based commercial real estate developer, announced on Monday that they had purchased a 42,500-square-foot former Wickes Furniture building at Randall Road and McKee Street in suburban Batavia and executed a lease with Art Van Furniture, making this the Michigan-based retailer's first Chicago-area location.
Nearly one year ago, Crain's Detroit Business reported that Art Van, which operates dozens of outlets in Michigan, was scouting locations in Chicago. And on March 21, the Daily Herald Business Ledger reported that Art Van had leased 183,500-square-feet in a 453,090-square-foot distribution building within the Bolingbrook Corporate Center West at 1150 W. 115th St.
The retailer will open the new location this summer and plans to start several more in the Chicago area sometime this year. A Target store shadow anchors the building and a new Chick-fil-A just opened next door.
Michael Havdala, senior vice president, and Brenton Schrader of Chicago-based HSA Commercial Real Estate represented the seller, US Bank. Stan Bobowski and Chris Bobowski, of Naperville-based Bobowski Commercial Real Estate represented Art Van Furniture.
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