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New York developer buys Pullman retail complex
Namdar Realty Group picked up the Pullman Park shopping center from Chicago Neighborhood Initiatives
A New York firm bought the Pullman Park retail complex from prolific Pullman developer Chicago Neighborhood Initiatives.
Great Neck, N.Y.-based Namdar Realty Group bought the 76,000-square-foot strip mall at 111th Street and Doty Avenue for $6 million, according to Cook County records.
The property is home to Ross Dress for Less, Dollar Tree and Planet Fitness and is adjacent to a Walmart Supercenter, which was not included in the sale.
Mid-America Real Estate Corporation’s Carly Gallagher and Rick Drogosz brokered the deal for CNI.
The nonprofit has led a number of major projects in Pullman, including the shopping center and a nearby industrial park anchored by Gotham Greens and Method Home Products.
CNI and Artspace Projects recently cleared the last major hurdle in their $18 million proposal for another mixed-use development in Pullman, the historic neighborhood’s first new housing in 50 years. The three-building Pullman Artspace Lofts will include 38 affordable units and 2,000 square feet of “community space” at the corner of Langley Avenue and 111th Street.
CNI and DL3 Realty also developed the first phase of the Englewood Square project, a retail development anchored by Whole Foods Market at 63rd and Halsted streets. Chicago-based Ascendance Partners is now working with Metro Edge Technologies to open a 10,000-square-foot data center at the Englewood complex.