Investments
Chicago Single Tenant Retail Properties
Maywood, Illinois and Oak Lawn, Illinois-
Property Type:
Single Tenant Triple Net
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Property Size:
8,200 SF
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Acquisition Date:
January 2011
Deal Summary:
Frontline Real Estate Partners acquired the note secured by two income-producing properties in the Chicago area. The properties included a White Castle restaurant located in Maywood, Illinois and a Budget Rent-A-Car location in Oak Lawn, Illinois. Frontline completed the foreclosure and took title to the properties within one month of closing on the note acquisition. Frontline created value through negotiating a lease extension with White Castle and completing environmental remediation on the Budget property, ultimately selling both properties within 18 months of acquisition.