Baum Realty Group on Thursday announced the sale of the Norwood Square retail center in Park Forest, Ill., for an undisclosed price.
The 15-acre, 129,000-square-foot shopping plaza sits at the intersection of 26th Street and Western Avenue.
Nassimi Realty Corp. purchased the property and plans a major multimillion-dollar redevelopment of the property and has committed to spending $1 million in the first 12 to 15 months of the project in order to revitalize and re-lease Norwood Square as a destination shopping center.
At the time of purchase, tenants at the center included Family Dollar and Currency Exchange.
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