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Property Map

Lake Plaza

1221-1261 N Lake Street, Aurora, IL
  • Property Type: Retail
  • Size: 45,403 Sq. Ft.
  • Date Closed: 06/15/2018

Challenges

• Ownership was looking to sell a shopping center and a free-standing Walgreens, both on the same site, they owned for over 10-years.
• The Walgreens Lease was shorter-term, providing challenges with not only the buyer pool, but financing options as well.

Solutions

• The team at Quantum was able to implement a multi-faceted marketing approach;
o Market the Walgreens individually
o Market the shopping center individually
o Market the two properties as a portfolio
• The team at Quantum was also able to leverage its relationships to get a strong sense of Walgreens performance at the store, bolstering the investment thesis for buyers.

Results

• Using Quantum’s proprietary database and executing on the marketing plan, multiple offers for the asset(s) were generated, including offers for just the Walgreens, just the shopping center and the portfolio as well
• By properly vetting the buyers, the team at Quantum was able to pick the best possible terms for the Seller and provide a high certainty of closing
• The transaction went from contract to closing in sixty days.

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