Vernon Hills, Ill., Jan. 31, 2021 -- Location Finders International Real Estate (LFI) is announcing the purchase of two retail properties located in Vernon Hills, Illinois. 890 N. Milwaukee Ave.
A former Denny’s, the location sits at the entrance off Milwaukee Ave. to both the under-construction Hawthorn Mall redevelopment and the completed Mellody Farms development – with a combined cost of approximately $400 million.
The second acquisition sits at 700 N. Milwaukee Ave., and is a single-tenant KFC on a short-term lease, at or below market rents. The KFC location also shares the intersection of Milwaukee Avenue and Townline Road with both the Hawthorn Mall redevelopment and Mellody Farms.
LFI looks forward to future opportunities for the properties. The properties combined have approximately 9,000 square feet of leasable space.
LFI’s acquisition team sourced both properties off market from out of state owners.
About LFI
Founded in 1973 by Michael H. Rose as a full service real estate development company, located in Mokena, IL, LFI is a vertically integrated real estate company focused on the acquisition, development, and creation of innovative commercial real estate solutions for its real estate portfolio consisting of more than 100 properties across the U.S., with a concentration in the Chicagoland area, ranging from small to large size retail centers, medical office buildings, prime commercial buildings, single tenant retail with large national or regional tenants, to be developed properties, large manufactured home communities, industrial parks, and hotels, currently valued in excess of $500 million. For more information, visit the LFI Real Estate website www.lfirealestate.com/.
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