Continental Realty Corp. Purchases Buying Middle Portfolio in Suburban Chicago for $93.6M

Pictured is Cicero Market, a 392,000-square-foot purchasing heart in Cicero.

CHICAGO — Continental Realty Corp. (CRC), a Baltimore-based actual property funding and administration firm, has entered the Chicago market with its acquisition of a five-property purchasing heart portfolio for $93.6 million. The properties whole greater than 900,000 sq. toes of gross leasable space and are situated in Cicero, Mount Prospect, Naperville and Palatine. Particularly, the properties embrace Cicero Market in Cicero, Northwest and English Valley purchasing facilities in Palatine, Golf Plaza II in Mount Prospect, and Fox River Commons in Naperville.

DiMucci Cos. was the vendor. Tucker Growth served as an acquisition and improvement marketing consultant on the transaction. The portfolio was 84 p.c leased on the time of sale. Main tenants embrace Sam’s Membership, The Residence Depot, Jewel-Osco, Kroger, Walgreens and Ross Gown for Much less. CRC utilized its Continental Realty Opportunistic Retail Funding Fund I, a non-public fairness fund shaped final 12 months that’s targeted on buying value-add and income-producing retail properties all through the U.S.