Draper and Kramer acquires three-acre commercial development parcel in Park Ridge

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Draper and Kramer and Property Solutions Group LLC represented ALDI Inc. in a ground lease with JAMA 5501 LLC for a 55,772-square-foot parcel at 5501 S. Harlem Ave. An 18,924-square-foot ALDI store is scheduled to open on the site in December 2017.

Draper and Kramer, Incorporated says it has closed on the purchase of a three-acre commercial development parcel in Park Ridge, IL., at the corner of Greenwood Ave. and Busse Hwy.

Following the acquisition, the company sold a portion of the site to a developer for what is described as a luxury senior housing development. The news release didn’t identify the developer.

In another project, the company represented ALDI Inc. in a ground lease with JAMA 5501 LLC for a 55,772-sq. ft. parcel at 5501 S. Harlem Ave. in Chicago’s Garfield Ridge neighborhood. An 18,924-sq. ft. ALDI store is scheduled to open on the site in December 2017.