About two years after foreclosing on a Glenview shopping center, a Goldman Sachs unit is putting the property up for sale.

Goldman hired Cushman & Wakefield to sell Carillon Square, a 75,000-square-foot retail and office complex at 1412-1498 Waukegan Road. The property is 70 percent occupied, with tenants including Advocate Health Care, Lalo's Mexican Restaurant and AthletiCo, according to a Cushman flier.

Investors that took over distressed properties after the crash have been cashing out for big gains as occupancies, rents and real estate values have rebounded the past couple years. Carillon Square is being offered without a listing price, but Cushman Director Nicholas Kanich said landlords have been thriving along the Waukegan Road corridor.

“The occupancy level of retail centers around this property is very healthy,” he said. “Their rents have been increasing because there is very low vacancy in the submarket.”

Carillon Square, built in 1982, suffered after the recession, and in April 2011 Cole Taylor Bank filed an $18 million foreclosure suit against its owner, a venture led by Chicago landlord Charles Mudd. Goldman ventures bought the debt on the property a few months later and worked out a consensual foreclosure with Mudd in spring 2013.

Goldman representatives did not respond to requests for comment.

Carillon Square sits near the busy intersection of Waukegan Road and Lake Avenue, which sees more than 55,000 vehicles pass by daily, according to Cushman & Wakefield's flier. But it lacks an anchor tenant to attract shoppers, which some investors may view as a weakness.

“It suffered through the downturn because it did not have a true anchor,” said Lee Kiser, principal and managing broker at Chicago-based real estate firm Kiser Group, which brokered the sale of Carillon Square in 2008 and 2003. “In 2008, when it sold it was still Blockbuster (video store) and that drew a lot of people in, but that was a dinosaur . . . I don't think they've had a good anchor there since that would draw people into the center.”

Yet that could be a plus for other investors, offering an opportunity to boost the property's value by luring an anchor tenant there.

“My advice would be find the right tenant and cut whatever deal you have to with them to get a true anchor in the center,” Kiser said.

Mudd paid $22.2 million for Carillon Square in 2008, according to property records, financing the transaction with two loans of $8.9 million each from Cole Taylor and Lakeside Bank. At that time, Carillon Square was 97 percent occupied, anchored by Blockbuster

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