Stan Johnson Company Brokers Sale of Ross Dress for Less Trophy Chicago Location

Ross-Chicago-IL

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a retail property located at 3925-3927 North Cicero Avenue in Chicago, Illinois. The two-story, 83,652-square-foot property is leased to Ross Dress For Less and its affiliate brand dd’s Discounts. Both retailers operate under a single master lease with a long-term net lease structure. Stan Johnson Company’s Mike Sladich represented the seller, an Illinois-based institutional investor. A California-based REIT acquired the asset which was listed for sale at approximately $13.7 million. 

“This property was a unique, trophy asset in the heart of Chicago that drew significant interest from institutional and individual investors looking for secure cash flow and long-term residual value,” said Sladich, Regional Director and Partner in Stan Johnson Company’s Atlanta, Georgia office. “Core real estate properties such as this Ross store are excellent examples of the security found in well located net lease assets that will continue to appreciate in value in an uncertain market.” 

The property features ground level and sub-surface level retail space with rooftop parking and is located just nine miles northwest of downtown Chicago. The desirable infill urban location draws from nearly half a million residents within a three-mile radius, and the site is adjacent to several large-scale mixed-use projects, including an ALDI-anchored development. 

“The current zoning for the property will allow for an investor to go vertical in the future and unlock additional value similar to the massive adjacent developments,” added Sladich. 

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About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $45 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.