ACO Brings Multiple Bids in Sale of 103rd and Harlem Retail Center
CHICAGO, ILLINOIS – Monday January 14, 2019
ACO Commercial is pleased to announce the sale of the Palos Commons Shopping Center, a 12,000 SF Retail Strip Center located at 10320-10338 S. Harlem Avenue Palos Hills, IL. The property was constructed in 1983 and was occupied with a mix of neighborhood tenants at the time of sale.
ACO’s 60-day marketing campaign generated multiple offers. The deal was awarded to a purchaser with no contingencies of sale. ACO’s George Toscas and Linda Hattar represented both the Seller and the Purchaser in the transaction.
The sale price of $1,335,000 reflected a capitalization rate of 8.4% and a price per foot of $111. Purchase financing was arranged by Joanne Campanile of Byline Bank. ACO Commercial specializes in the sale of commercial and investment real estate throughout the Chicagoland Area.