December 30, 2024 – Mark Heidecke of Horvath & Tremblay has successfully completed the sale of Spring Grove Center in Spring Grove, Illinois. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,650,000.
The Spring Grove Center is located at 2020 US Route 12 in Spring Grove, Illinois. The plaza contains 21,130 square feet of gross leasable area on a 3.34-acre parcel. The Property contains ten (10) retail suites and is 92.62% leased to a complimentary mix of local tenants that serve the needs of the area residents. The Property offers upside through the lease-up of the 1,560 square-foot vacant unit. The highly visible Property is strategically located at the intersection of Blivin Street and US Route 12, the region’s primary commercial and commuter corridor. Spring Grove Center is 0.5-miles from Jewel-Osco, the area’s lone grocer, Walgreens and McDonald’s, and is convenient to numerous industrial and commercial businesses that drive traffic to the area. Spring Grove Center is also surrounded by residential neighborhoods, all of which provide a captive consumer base. Positioned in northern Illinois, the Kirkland Towne Center is close to IL Routes 173 and 31 and is 55-miles south of Milwaukee and 65-miles north of Chicago.
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.