Completed in 1975, the grocery-anchored shopping center comprises four, one-story buildings. Image courtesy of Mid-America Real Estate Corp.
Nassimi Realty has purchased Four Flaggs, a 326,084-square-foot retail center in Niles, Ill. DRA Advisors LLC sold the property for $20.5 million, according to public records.
Mid-America Real Estate Corp. brokered the transaction, with Principals Ben Wineman and Rick Drogosz working on behalf of the seller.
Anchored by Fresh Farms International Market, the property includes local and national tenants such as Marshalls, PetSmart, Old Navy, JoAnn, Wendy’s, AutoZone, McAlister’s Deli, Starbucks, CosmoProf, Five Below, Tang Korean Restaurant and Ashley Furniture. At the time of the sale, Four Flaggs was 75 percent leased and managed by Pine Tree.
Completed in 1973, the grocery-anchored shopping center comprises four, one-story buildings spread on a 22.5-acre site at 8305 W. Golf Road, within Chicago’s North Shore. Four Flaggs has major street exposure and is close to West Golf Road/State Route 58, N. Milwaukee Ave. and Route 14, which provide access across the Chicago metropolitan area.
DRA Advisors has recently sold the 226,029-square-foot Randall Square shopping mall in Geneva, Ill., for $31.1 million. Mid-America Real Estate Corp.’s Investment Sales Group brokered the deal on behalf of DRA. The Huntington National Bank financed the transaction with a line of credit totaling $65 million, of which $21.8 million were used for the acquisition.
