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Commercial
Chicago

Here are the Chicago area’s top 5 retail investment sales of October

The former home of Red Kiva in the West Loop joins four suburban retail complexes on the list

From left: Burbank Walgreens, 1100 West Randolph Street, Chicago, and the Orland Park Home Depot.
From left: Burbank Walgreens, 1100 West Randolph Street, Chicago, and the Orland Park Home Depot.

Four of the Chicago area’s top five retail investment sales last month were recorded in suburban Cook County, led by the trade of a Home Depot in Orland Park. In Burbank, former Double Door music club owner Brian Strauss picked up a Walgreens property.

The lone Chicago sale on the list was for a Fulton Market building known as the former home of the Red Kiva nightclub, which sold to Centaur Capital Partners.

The five deals combined for about $45 million in sales, according to Cook County property records.

1. 7300 West 159th Street, Orland Park | $17.1 million

Dallas-based Tabani Group notched the region’s largest retail investment sale last month, buying a Home Depot property in southwest suburban Orland Park from the real estate trust VEREIT on Oct. 12.

The Tabani Group lists 29 retail properties in its portfolio, including at least six in Illinois.

2. 5555 West 79th Street, Burbank | $9.5 million

Brian Strauss, the embattled landlord of the former Double Door nightclub in Wicker Park, spent nearly $10 million to buy a Walgreens property in south suburban Burbank. Property records list the sellers as Yen and Jane Chu.

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CA Ventures bought the Double Door space, 1572 North Milwaukee Avenue, for $9.1 million in June. A Yeti outdoor shop has been announced as its next tenant.

3. 1100 West Randolph Street | $8.6 million

Gilman Management sold this two-story brick warehouse in the heart of the West Loop’s Randolph Street restaurant district to an LLC that ties back to John G. Schreiber, a Blackstone adviser and president of the investment firm Centaur Capital Partners.

The space was known as the longtime home of the Red Kiva nightclub, which closed after a man was shot to death outside it in 2015, according to DNAinfo.

4. 320 Golf Road, Schaumburg | $5.4 million

Oak Brook-based InSite Real Estate bought a DriveTime auto dealership in northwest suburban Schaumburg on Oct. 29 from Volkswagen Group of America.

5. 1200 Dundee Road, Palatine | $4.4 million

Alfredo Linares, owner of the La Chiquita supermarket chain, bought a Taco Bell drive-thru in northwest suburban Palatine from Miami-based Rialto Capital Advisers on Oct. 3.

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Commercial Real EstateRetailWest Loop