PARK RIDGE, Ill. - (May 18, 2017)
Sale of former Sam’s Club in Milwaukee, ground lease with ALDI in Chicago among other recent Draper and Kramer-led transactions
Draper and Kramer, Incorporated, a full-service national real estate firm, announces it has closed on the purchase of a 3-acre commercial development parcel located in Park Ridge, Ill., at the corner of Greenwood Avenue and Busse Highway. The firm was self-represented in the transaction, while the seller, the American Society of Anesthesiologists, was represented by Paul Buckingham and Terry Alexa of Newmark Grubb Knight Frank.
Following the acquisition, Draper and Kramer sold a portion of the site to a developer for a luxury senior housing development. Jason Gustavson of Stone Real Estate is marketing the remaining commercial parcel on behalf of Draper and Kramer.
This is Draper and Kramer’s second transaction in Park Ridge during the last year. In December 2016, Draper and Kramer sold a medical office building located at 101 S. Washington Ave., directly adjacent to Whole Foods. Danny Spitz and Greg Dietz of Baum Realty Group represented Draper and Kramer in the sale.
Other Recent Transactions:
In addition to the Park Ridge acquisition, Draper and Kramer recently completed the following sale and lease transactions:
- $2.9 Million Sale of Former Sam’s Club in Northwest Milwaukee:
In February, Draper and Kramer, along with Lancet Realty Advisors Inc. and Cushman & Wakefield/The Boerke Company Inc., represented Wal-Mart Stores Inc. in the sale of a 138,480-square-foot former Sam’s Club at 7701 S. Calumet Road in northwest Milwaukee. The buyer, General Capital Acquisitions LLC, was represented by PARADIGM Real Estate LLC.
- 20-Year Ground Lease with ALDI Inc. in Southwest Chicago:
Also in February, Draper and Kramer and Property Solutions Group LLC represented ALDI Inc. in a ground lease with JAMA 5501 LLC for a 55,772-square-foot parcel located at 5501 S. Harlem Ave. in Chicago’s Garfield Ridge neighborhood. The landlord was represented by Jason Gustaveson of Stone Real Estate. An 18,924-square-foot ALDI store is scheduled to open on the site in December 2017.
About Draper and Kramer, Incorporated
Founded in 1893, Draper and Kramer, Incorporated is family-owned and one of the leading privately held full-service real estate firms in the U.S. Draper and Kramer is headquartered in Chicago with a national reach and broad offering of services. The company’s expertise spans residential and commercial property management and leasing; debt and equity financing for commercial properties; residential and commercial acquisition and development; and residential mortgage services through Draper and Kramer Mortgage Corp. Draper and Kramer provides a single source of real estate-related counsel to a diverse group of investors in real estate across the U.S including corporations; private and institutional owners and users of real estate; government agencies; condominium associations; and foundations. For more information, visit www.draperandkramer.com.
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Editors:
For more information, contact Sarah Lyons, [email protected], (312) 267-4520.
