Baum Realty Group sells retail near Chicago

Buyer plans multimillion-dollar redevelopment

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. *** What's your opinion? Leave your comments below or send a letter to the editor. ...