October 10, 2021 – Mark Heidecke of Horvath & Tremblay has successfully completed the sale of the Central Plaza in Oak Lawn, Illinois. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,000,000.
The Central Plaza is located at 10301-10345 Central Avenue in Oak Lawn, Illinois. Central Plaza, anchored by Family Dollar and Dunkin’, contains 26,331 square feet and is situated on approximately 2.67 acres. At the southeast corner of Central Avenue and 103rd Street, the center benefits greatly from its position next to Richards High School just blocks from the 95th Street Retail Corridor. The existing tenants at the center have all recently been renewed or extended, adding stability to the asset. The majority of tenants escalate on a yearly basis creating additional equity and better future returns. The building is well-maintained including several recent upgrades and replacements. The center also provides a future development opportunity on the south end of its 2.67 acre lot. The pad sits directly on the corner of Central Avenue and 105th Street and would come with an abundance of parking given the current center’s oversized parking lot.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.