Melrose Park shopping center fetches 61 percent more than 2011 price

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The owner of a Melrose Park shopping center has cashed out for a big gain about two years after buying the property from its lender…

…For Cole, a Phoenix-based real estate investment trust, the property was an attractive bet because there are few large retail spaces available in Melrose Park, making it easier to fill its space if any tenants moved out, said Nathan Tonnies, a principal at Highland Park-based Metro Commercial Real Estate Inc.

Crain’s Chicago Business // Micah Maidenberg // View the Full Article