Mid-America Completes Ground Lease Sale for New Aldi Building in Chatham

Posted on 30. Dec, 2011 by citizen in Bill's Business, The Tally

CHICAGO – Mid-America Real Estate Corporation’s Net Lease Investment Group recently announced the $1.8 million sale of a triple net ground lease for a new 16,750 square-foot freestanding Aldi building in Chicago’s Chatham community. The buyer is a private California investor. According to Mid-America broker Bill Wright, whose firm was the exclusive representative for the seller, this transaction is another example of private investors putting their money into “hands-off” net leased retail properties that require no landlord maintenance. “This deal continues the trend of West Coast private capital seeking investment in solid ‘core’ Midwestern markets,” he says, “and this ground lease is a perfect example of what they’re looking for here.” The Aldi building was constructed in 2011, and is located at 8500 South Holland Road.