SAINT CHARLES, IL–(January 31, 2014) – Frontline Real Estate Partners closed the sale of a 4,600 square foot, two-story vacant restaurant facility located at 102 E. Main Street in the historic downtown district of Saint Charles, Illinois. The property has a deep history – originally constructed in 1840 and said to have once been a part of the Underground Railroad. The building was converted to a restaurant in 1992 and was most recently utilized as a pizzeria before it became vacant.
Frontline was engaged to market the property for sale in October 2013 when the lender on the property took it back through foreclosure. Eric Jacobson, associate at Frontline Real Estate Partners, said that he was able to generate significant interest in the property because of its excellent location on Main Street in downtown Saint Charles. The property was quickly put under contract and purchased by a local restaurateur with multiple existing locations. A new restaurant operation is expected to open at the location this year.
About Frontline Real Estate Partners
Frontline Real Estate Partners, LLC is a Chicago-based real estate investment and advisory company with expertise in the acquisition, management, disposition, and leasing ofcommercial real estate properties throughout the United States.Founded in 2010, Frontline invests in value-add properties and provides transactional and advisory services to banks, financial institutions, and owners with a focus on the real estate restructuring industry.