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Chicago

Assortment of Fannie May retail stores hits market

7 locations, all but 1 in suburbs, leased to chocolate company through 2025

Several retail stores leased to chocolate company Fannie May hit the market. Six of the 7 locations are in the suburbs (iStock)
Several retail stores leased to chocolate company Fannie May hit the market. Six of the 7 locations are in the suburbs (iStock)

An assorted collection of mostly suburban retail stores leased to chocolate manufacturer Fannie May has hit the market.

The properties, all low-rise and free-standing buildings, are land leased to the Ferraro candy company subsidiary through 2025, according to a property brochure and records. Their lots range from 12,000 to 26,600 square feet, and the stores generate an average annual yearly rent of $463,700.

The lone Chicago location is at 5543 South Harlem in Garfield Ridge. The others are: 201 South Main Street in Mount Prospect; 6351 West 95th Street and 10700 South Cicero Avenue in Oak Lawn; 7001 North Lincoln Avenue in Lincolnwood; 10066 North Skokie Boulevard in Skokie; and 18101 South Halsted Avenue in Homewood.

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It’s unclear who owns the entire portfolio; the only deed available in public records is that of the Halsted Street property. That location is owned by Buffalo firm Delta-Sonic Carwash Systems.

The price on the portfolio was not disclosed. Brokerage firm CTK Chicago Partners is marketing the portfolio, selling the properties as possible candidates for repositioning or redevelopment, according to the brochure. CTK’s Nick Saraceno, the agent handling the listing, did not respond to requests for comment.

Fannie May, which was founded in Chicago in 1920, started as a single store on North LaSalle Street. The company manufactures candy brands such as Pixies, Buttercreams and Mint Melt Aways. It now has 55 locations, according to a previous report.

Recent retail sales in Chicago include Hutensky Group’s $31.6 million acquisition of two suburban malls and Sperry Equities’ $26 million purchase of the Willow Creek Center in Glenview.

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Retail Real Estate