Shopping center sold for $3.5 million

SOUTH CHICAGO HEIGHTS - The American Plaza Shopping Center in South Chicago Heights was recently sold for $3.5 million, according to a commercial realty group involved in the sale.

Karen Kulczycki of SVN Chicago Commercial, which has a Rosemont office, helped secure the sale of the 63,148-squate-foot retail shopping center located at 3300 and 3320 Chicago Road. The 13-unit center sits on over 4.5 acres and hosts both national and local retailers along a suburban retail corridor.

Both the buyer and seller were undisclosed.

Kulczycki was able to negotiate a contract to close in 50 days to an out-of-state buyer, SVN said. The center sold for $55.43 per square foot. Prior to completing the sale, Kulczycki successfully leased the shopping center to a 94% occupancy.

SVN | Chicago Commercial is a full-service commercial real estate advisory complete with an in-house property management company. Located in Chicago's West Loop, the firm was established in 2008 and has more than 50 active advisers.