Greenstone Partners is pleased to announce the sale of Gross Point Crossing, a 19,000-square-foot suburban retail center located in Skokie, IL, for $3,875,000. Greenstone Partners’ Brewster Hague and AJ Patel represented the seller, a Chicago-based private investor, and procured the buyer, an Ohio-based private real estate investment firm.
The property was 67% occupied at the time of sale, presenting a clear value-add opportunity through the lease-up of approximately 6,000 square feet and the ability to bring rents to market. The asset features a diversified tenant mix of food and service-oriented users, offering stable in-place income with meaningful upside.
Located at the signalized intersection of Gross Point Road and Dempster Street, the property benefits from strong visibility to nearly 42,000 vehicles per day and positioning within an established retail corridor.
“This was a highly targeted execution for a value-add retail investor looking for both immediate upside and long-term stability,” said Brewster Hague, Partner of Greenstone Partners. “Assets with this combination of location, visibility, and lease-up potential continue to attract strong buyer interest, particularly in supply-constrained suburban markets.”
“Skokie offers a unique blend of suburban accessibility with an urban feel, driven by its proximity to downtown Chicago and strong population density,” added AJ Patel, Director of Greenstone Partners. “It is also one of the few suburbs directly served by a CTA train line, which continues to support tenant demand and long-term growth.”
The buyer was attracted to the opportunity to acquire a well-located retail asset with immediate lease-up potential and long-term upside within a strong submarket.
This transaction underscores continued investor demand for neighborhood retail centers with embedded value-add potential. Ongoing development activity throughout Skokie, including new multifamily and retail projects, is further enhancing density and strengthening the area’s consumer base.
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