In The News

Mid-America Real Estate's Urban Team Sells Site of Ranalli’s Restaurant & Beer Garden in Lincoln Park; Team also garners Vitamin Shoppe for new Elston & Logan development

CHICAGO – The property formerly tenanted by Lincoln Park icon Ranalli’s Restaurant & Beer Garden recently sold to Chicago-based 1925 North Lincoln, LLC, for an undisclosed amount, according to Mid-America Real Estate Corporation Principal Paul Bryant and Associate Luke Molloy, both members of the firm’s Urban Team. The property includes 7,000 square feet of space, which will be used for a new restaurant and bar that is estimated to open in May 2009. Mr. Molloy represented the seller in the transaction, Chicago-based Park West Properties, Inc., dealing directly with the buyer.

In a separate urban transaction, Mid-America signed Vitamin Shoppe with a lease for 3,497 square feet at a 60,000 square-foot retail project under development on the northeast corner of Elston Aveue and Logan Boulevard. The New Jersey-based specialty retailer specializes in nutritional products, including supplements, herbs, sports nutrition formulas, and homeopathic remedies. Paul Bryant and Luke Molloy represented the landlord in the lease, while the tenant was represented locally by Peggy McNamara of McNamara Realty Services, and nationally by Corey Bialow, of Bialow Real Estate.

Mr. Molloy says that while construction remains on the shopping center’s outlots, the project is 75% leased with many of the tenants already open. Other tenants include TJX HomeGoods, David’s Bridal, and several specialty retailers.

Mid-America Real Estate Corporation is a member of Mid-America Real Estate Group, a ChainLinks affiliate. Mid-America Real Estate Group is a full-service retail real estate organization that has become the Midwest’s leader in retail investment sales. For more information, call (630) 954-7300 or visit www.midamericagrp.com.

ChainLinks Media Contact:
Marie Robinson - 800.394.3701 ext. 8970