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2006 : Baum Realty Group, Inc. Completes Sale Valued at $8.9 million April 27, 2006 Baum Realty Group, Inc. represented Thrush Development in the sale of Block Y—a 27,187 square foot fee simple retail condominium plus a 169-stall parking garage—located at 1301 W. Madison St., Chicago, Ill. Chad Firsel, Adam Secher, and Jason Berngard of Baum Realty Group, Inc., completed the transaction valued at $8.9 million. Block Y is currently 100 percent occupied by national credit tenants. Long-term tenants include Washington Mutual Banks, Athletico, an outpatient physical therapy facility, and Cardinal Fitness, a premier fitness club. In addition to the retail component, the parking structure features 148 stalls for public usage, plus 21 spaces designated for residential parking. Baum Realty Group, Inc.’s Chad Firsel, Adam Secher and Jason Berngard, represented the seller in the transaction. Jennifer Fitzpatrick of Blatteis & Schnur Realty Co. represented the buyer. “Block Y is located in a booming residential neighborhood. The popularity of the area, the strong demand for parking and proposed changes in area parking ordinances provide tremendous upside potential for parking income. Additionally, this investor was able to capitalize on the stability of the current tenants and the potential for future upside in rent levels” Firsel said. |
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1030 W. Chicago Avenue :: Suite 200 :: Chicago, IL :: 60642 :: P: 312.666.3000 :: F: 312.666.7970 :: info@baumrealty.com |
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