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Patrick Commercial Real Estate Awarded Portfolio Assignment in Downtown Naperville, IL-image
09.28.15

Patrick Commercial Real Estate Awarded Portfolio Assignment in Downtown Naperville, IL

Naperville, Illinois. September 28h, 2015 – Patrick Commercial Real Estate, LLC announces today that it has been retained as exclusive agent to market the portfolio of properties known collectively as “Block 411” in Downtown Naperville. Matthew R. Rasche and John Groll are the lead brokers on the assignment. The portfolio consists of four parcels:

19 N Washington, Naperville IL 60540 – A +/- 2,400 square foot retail property occupied by local favorite Fiamme Pizzeria. The property will be sold with the tenant in place.

22 W Franklin, 28 W Franklin and 34 W Franklin, Naperville IL 60540 – Three contiguous single-family home sites intended for residential redevelopment.

“We are very excited to bring this portfolio to market. It is very rare to have an assemblage of property like this in Downtown Naperville. We have already received a tremendous amount of pre-listing interest as we have been preparing for this assignment.” Said Rasche.

“Investors and developers have both showed a strong interest.” Added Groll. “As a result of the built up demand for these properties we are going to be issuing a sealed bid deadline so all interested parties will have the opportunity to make an offer.”

The residential properties will be sold together as one offering and the retail property will be sold separately as another offering. Prospective buyers will be welcome to make offers on both.

The Sealed Bid Deadline is expected to be in mid November with an anticipated closing date before the end of the year.

Interested parties can contact Matthew Rasche for additional information via email at Matthew@PatrickCommercial.com