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Lockport LAD Sells 100% Leased Retail Center

LOCKPORT, IL-The shopping center, which includes a Jewel-Osco, was constructed in 2005 and sits on nearly 5 acres just off Interstate 355.

By Cari Brokamp | Updated on November 19, 2008

LOCKPORT, IL-Two investors have purchased the 30,000-square-foot Lockport Center, at 16521-16615 159th St., just off the four-way interchange of Interstate 355 and 159th Street. The shopping center, which is 100% leased to tenants including a Jewel-Osco, Blockbuster, Hallmark and UPS, was constructed in 2005 and has nearly five acres.

Asking lease rates at the property range from $20 to $25 per square foot, net, according to Jeffrey J. Kowal, SVP with Edgemark Commercial Real Estate Services LLC, which represented the seller, Lockport LAD LLC, in the deal. Rahul Patel with Realty Executives Suburban represented the buyer.

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