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OAK LAWN, IL-A 92,000-sf shopping center at 95th Street and Cicero Avenue went for $11.2 million at a recent auction. A private investor won the bidding for Green Oak Shopping Center, anchored by Marshalls and Sav-A-Lot and sold by a family trust.

The property on 8.7 acres also includes a 2,400-sf Wendy’s hamburger restaurant on an outlot. In-line tenants in the center, built in 1967, include H & R Block, Carpetland USA, Leslie Pool Supplies and Sylvan Learning Center.

Although 17 bidders signed up, the competition quickly thinned, reports Schaumburg-based DK Realty Partners, LLC principal David M. Kaufman, CCIM. “The bidding was so swift, only six bidders managed to participate in the bidding,” Kaufman says.

The private investor had to buy the property at the southeast corner of the heavily-traveled intersection in “as is-where-is” condition with no mortgage contingency and a hefty bid deposit, Kaufman adds.

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