Brady Place shopping center sold for $9.6 million

Walgreens-anchored property purchased by Illinois group

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A prominent East Side shopping center on Brady Street, anchored by a Walgreens store, has been sold to an Illinois investor for $9.6 million.

Brady Place

Brady Street Partners LLC sold the 24,256-square-foot property at the corner of East Brady Street and North Cambridge Avenue to Park Ridge, Illinois-based Brady MKE LLC c/o Newcastle Properties in late February, according to state records.

Brady Street Partners, LLC is registered to Chicago- based Monroe Investment Partners.

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The property is assessed by the city of Milwaukee at $5.6 million.

The shopping center, 1414-1438 E. Brady St., is one of the few retail establishments along the Brady Street corridor that has included retailers found in suburban shopping malls rather than the eclectic blend of retailers that line the street.

In addition to the Walgreens, retailers include T-Mobile, Supercuts, Subway and GNC.

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The property also has a large parking lot, making it stand out on Brady Street.

Mid-America Real Estate Corporation Principal Rick Drogosz and Vice President Carly Gallagher, in cooperation with Mid-America Real Estate – Wisconsin Principal Dan Rosenfeld were the represented the seller.

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