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DRA Advisors acquired Aurora Commons again in 2002, in accordance with CommercialEdge knowledge. Picture courtesy of JLL Capital Markets
Sperry Equities has bought Aurora Commons, a 125,826-square-foot open-air retail middle in Aurora, Ailing. IRC Retail Facilities, a privately held actual property firm owned by funds managed by DRA Advisors LLC, bought the asset for $9 million, in accordance with public information. Farm Bureau Life Insurance coverage Firm of Michigan supplied a $7 million acquisition mortgage, the identical sources present.
JLL Capital Markets brokered the transaction, with Director Michael Nieder, Managing Director Keely Polczynski and Analyst Caity Tirakian main the Funding Gross sales and Advisory workforce engaged on behalf of the vendor. On the time of the sale, the purchasing middle was 75 % leased.
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Anchored by Ross Gown for Much less, DD’s Reductions and Cermak Recent Market, Aurora Commons additionally features a various mixture of native and nationwide tenants akin to 5 Under, Greenback Tree, T-Cell, H&R Block, Pizza Now and BMO Harris Financial institution.
Situated at 1272 N. Lake St., Aurora Commons is near the intersection of Route 31 and Interstate 88, which offer easy accessibility throughout the Chicago metropolitan space. The three-building retail middle serves round 108,848 individuals inside a 3-mile radius, with an total shopping for energy of $3.4 billion and the typical revenue of roughly $87,717. Aurora Commons is inside strolling distance of Ascension Mercy Hospital, Advocate Well being Care and Cool Acres Park.
DRA Advisors has lately bought a 326,084-square-foot retail middle in Niles, Ailing. Nassimi Realty bought the asset situated inside the Chicago MSA for $20.5 million.
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