Time Equities Inc. Buys 7,400 SF Retail Property on Chicago’s Jeweler’s Row for $3.9 Million
Time Equities Inc. (TEI) has acquired a 7,400-square-foot retail property at 33 South Wabash Avenue in Chicago for $3.9 million. The three-unit property is located in the South Loop, within the historic Jeweler’s Row district, offering 38 feet of frontage on Wabash Avenue.
The retail space is fully leased and occupies the base of a 360-unit luxury condominium building, which also houses the School of the Art Institute of Chicago. Current tenants include Goddess & the Baker, Reckless Records, and Prasino. Ami Ziff and Jonathan Kim represented TEI in the internal transaction. Mitchell Kiven of Marcus & Millichap acted on behalf of the seller, Newcastle Investors. This acquisition adds a stabilized, income-generating asset to TEI's portfolio in a prominent urban location.
More from Chicago
· Chicago, Illinois
Northmarq Arranges $24.7 Million Fannie Mae Refinancing for Chicago Multifamily Property
· Chicago, Illinois
Downtown Chicago Retail Property, Block 37, Sells for $30 Million
· Chicago, Illinois
Chicago Real Estate Community Gathers for Eisenberg Foundation’s Annual Fundraising Dinner
· Chicago, Illinois
O’Hare’s $8.8 Billion Expansion Progresses with Unique Management Approach
· Chicago, Illinois
Daniel Management Group Promotes Lauren Evett to VP of Property Management
More in Illinois
· Blue Island, Illinois
Kiser Group Brokers $22 Million Sale of 345-Unit Blue Station Apartments in Blue Island
· Lisle, Illinois
Sentinel Technologies Leases Full 63,409 SF Building for New Lisle Headquarters
· Evanston, Illinois
Evanston Sees Two Major Multifamily Property Sales, Including a $126M Acquisition by Draper and Kramer
· Vernon Hills, Illinois
Fortec Completes $5 Million Conversion of Vernon Hills Warehouse into Early Education Center
· Mount Prospect, Illinois
Rhino Investments Secures $72.3M Financing for Randhurst Village Acquisition in Mount Prospect, Illinois