Ashkenazy Acquisition Corporation acquires 200,000 s/f retail property in Chicago

Chicago, IL Ashkenazy Acquisition Corporation (AAC), a private real estate investment firm led by CEO and Chairman Ben Ashkenazy, announced the acquisition of Gateway Centre, an approximately 200,000 s/f retail property.

Located at 7507 N Clark St. and on the shore of Lake Michigan, Gateway Centre is 93.4% leased, and anchored by Jewel-Osco, Marshalls, and LA Fitness. The center is located just under three miles from downtown Evanston and nine miles from Chicago’s central business district.

“As a specialist in headliner transit-oriented properties, Gateway Centre fits right into AAC’s core investment strategy,” said Joe Press, COO of AAC. “The property is a high traffic infill location that is connected to the Howard CTA Station, allowing Gateway Centre to attract morning and evening commuter traffic on foot, rail, bus and cars.”

The Howard CTA Station is directly above the Paulina St. Shops. The terminal serves the CTA Chicago “L” Red, Yellow and Purple train lines, CTA Bus Routes 22, 97, 147, 201, 206, and Pace Bus Routes 213, 215, 250, 290 and 422. There is a Divvy station along Paulina St. and covered bike parking in the CTA Station.

AAC was represented in house on the transaction and the seller, Stockbridge, was represented by George Good from CBRE.