CHICAGO—Archer Station, a fully leased four tenant shopping center located at 2620-2640 W. Pershing Rd. in Chicago, was just sold for $24,312,811. LA Fitness, Ross Dress for Less, AT&T Wireless and Athletico Physical Therapy occupy the recently-developed property, located at the signalized intersection of Archer Ave. and Pershing Rd. on the South Side.

Although this property is not located in one of the city's top retail destinations, commercial and residential buildings do fill the surrounding area and provide significant barriers to entry. Furthermore, I- 55 is just one-half mile to the north of the property, and the 35th & Archer CTA Orange Line “L” Station is just blocks away. The surrounding Brighton Park neighborhood has attracted a lot of interest from homeowners, and was recently picked by Redfin as the third hottest neighborhood in Chicago.

Randy Blankstein and Jimmy Goodman of the Northbrook, IL-based Boulder Group represented both the seller and purchaser in the transaction. The seller was the developer, a Midwest-based company and the purchaser was an institutional investor.