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New York developer buys Pullman retail complex

(Credit: iStock)

A New York firm bought the Pullman Park retail complex from prolific Pullman developer Chicago Neighborhood Initiatives.

Great Neck, N.Y.-based Namdar Realty Group bought the 76,000-square-foot strip mall at 111th Street and Doty Avenue for $6 million, according to Cook County records.

The property is home to Ross Dress for Less, Dollar Tree and Planet Fitness and is adjacent to a Walmart Supercenter, which was not included in the sale.

Mid-America Real Estate Corporation’s Carly Gallagher and Rick Drogosz brokered the deal for CNI.

The nonprofit has led a number of major projects in Pullman, including the shopping center and a nearby industrial park anchored by Gotham Greens and Method Home Products.

CNI and Artspace Projects recently cleared the last major hurdle in their $18 million proposal for another mixed-use development in Pullman, the historic neighborhood’s first new housing in 50 years. The three-building Pullman Artspace Lofts will include 38 affordable units and 2,000 square feet of “community space” at the corner of Langley Avenue and 111th Street.[https://therealdeal.com/chicago/2018/06/27/artspace-chicago-neighborhood-initiatives-win-approval-for-pullman-lofts/]

CNI and DL3 Realty also developed the first phase of the Englewood Square project, a retail development anchored by Whole Foods Market at 63rd and Halsted streets. Chicago-based Ascendance Partners is now working with Metro Edge Technologies to open a 10,000-square-foot data center at the Englewood complex.[https://therealdeal.com/chicago/2018/10/31/ascendance-partners-bringing-data-center-to-englewood-development/] Recommend0 recommendationsPublished in Real Estate

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