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Colorado Investor Buys Townline for $24M

VERNON HILLS, IL-A private investor in Colorado is buying Townline Commons shopping center from Location Finders International for $24 million.

By Gina Kenny | Updated on March 06, 2007

VERNON HILLS, IL-A private investor from Colorado has purchased the Townline Commons, a shopping complex at 555 Townline Road, from Mokena, IL-based Location Finders International. The sale price was $24 million. Principal Rick Drogosz and associate Joe Girardi, both with Mid America Real Estate Corp.’s investment sales group, represented the seller in the transaction.

The sale is for 101,555 sf of the 280,000-sf shopping center, which was constructed in 1991, Girardi says. The center is shadow anchored by Wal-Mart, Toys “R” Us and Petco, which are separately owned. Anchor tenants of the Townline Commons shopping center include OfficeMax, Golf Galaxy, Discovery Clothing and Plunkett Furniture. Other major tenants include Bath & Body Works, Payless Shoe Source, Supercuts, Chicago Home Fitness, Washington Mutual and Wells Fargo Financial.

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