GW Properties has sold a portion of its Church Street Plaza retail development for $4.725 million.
The five storefronts at 900-950 Church St., in the base of the 909 Davis St. office building, total 9,589 square feet of space and had been listed for $5.32 million, indicating the sale, recorded last month by the Cook County Clerk’s office, netted 88% of the seller’s asking price.
The buyer is SW Neighborhood Centers II, an affiliate of Shannon Waltchack, a firm based in Birmingham, Alabama, that has just one other property in Illinois, the Gateway Plaza strip mall in Bloomingdale.
The Church Street property had several vacancies when Mitch Goltz of GW Properties acquired it and the rest of the Church Street Plaza theater and retail complex in 2021.
He’s since managed to fully lease the just-sold storefronts, which are now occupied by Big Wig Tacos, CycleBar, Noodles & Co., Pure Barre and Semper Laser.
Broker Quantum Real Estate Advisors, Inc., says those tenants have an average of eight years left on their leases.
The LoopNet commercial real estate site currently lists just two other retail properties for sale in downtown Evanston.
The owner of the 802 Davis St. retail condo occupied by Cinnaholic is asking $627 per square foot.
And the owner of the long-vacant space at 1710 Maple Ave. that once housed a Fifth Third Bank branch is asking $169 per square foot.