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2008 : 2007 : 2006 : 2005 : 2004 : 2003 : 2002 Baum Realty Group Completes Sale of 15 Acre Shopping Center Park Forest’s Norwood Square to be Revitalized March 13, 2008 Baum Realty Group is pleased to announce the sale of Norwood Square, a 15-acre, 129,000 SF shopping center in the Chicago suburb of Park Forest. Norwood Square sits at the intersection of 26th Street and Western Avenue and is conveniently located within one mile of US 30/Lincoln Highway. Jason Berngard of Baum Realty Group and Chad M. Fisel of NAI Hiffman represented the seller in this transaction. “Norwood Square offered a great investment opportunity,” says Jason Berngard of Baum Realty Group. “Not only is the center conveniently located in a densely populated area, but the buyer also has the chance to transform the property and contribute to the exciting redevelopment of the Village of Park Forest. Nassimi Realty Corporation has purchased the property. They plan a major mulit-million dollar redevelopment of the property and have committed to spending $1 million in the first 12 to 15 months of the project in order to revitalize and re-lease Norwood Square as a destination shopping center. Current tenants of the center include Family Dollar and Currency Exchange. Oliver Nassimi represented the buyer in this transaction. |
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1030 W. Chicago Avenue :: Suite 200 :: Chicago, IL :: 60622 :: P: 312.666.3000 :: F: 312.666.7970 :: info@baumrealty.com |
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