Time Equities Inc. has recently acquired Burbank Plaza, a suburban shopping center located at 8014–8050 S. Cicero Avenue, for $3.1 million from a private investor. This marks the tenth property in Time Equities’ Illinois portfolio and demonstrates their continued growth in the Chicago market.
The purchase was facilitated by Time Equities’ internal team consisting of Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith while CBRE’s Adam Foret represented the seller.
Burbank Plaza boasts high traffic with approximately 73,000 vehicles passing through daily and is conveniently situated just three miles away from Chicago Midway International Airport. The center is currently occupied at 91% capacity with anchor tenant Family Dollar and is adjacent to a Jewel-Osco store.
This acquisition further solidifies Time Equities’ presence in Chicago as they also have other notable properties such as 1000M – a luxurious residential tower on Michigan Avenue near Grant Park – under their belt.
The article “Time Equities Acquires Burbank Plaza Shopping Center” was originally published on Connect CRE.
