Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NILES, IL-Before getting $147 per sf for a small strip center at Oakton Street and Waukegan Road, Bloomingdale, IL-based Turano Partnership had three vacancies in Waukegan Plaza’s seven units. One vacancy remains, but bolstering occupancy and converting month-to-month leases into three-year deals were moved credited for making the center more attractive to the market.

That included a Chicago-based investor, who paid $1.29 million for the property at 8000 N. Waukegan Rd., a location in a middle-income census tract where the medium family income is $68,198.

“We didn’t just put a sign on the building and hope it would sell,” says Inland Real Estate Sales Inc. associate Joseph R. Jankovsky, who handled both end of negotiations. “We worked with the owner to bring in new tenants and make the leases more attractive to potential investors.” Turano Partnership acquired the retail asset in 1997 in a Cook County sheriff’s sale.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.