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Azzuri of Evanston, the owner of Evanston Plaza, Dempster Street at Dodge Avenue, has sold the property. The purchaser, BI Evanston, LLC, paid $36,180,000, and the City received $325,620.00 in transfer-tax revenues.
Azzuri purchased Evanston Plaza in September 2014 for $16 million and established The Valli Produce as its anchor tenant in the sparsely leased plaza. Since then, Azzuri made improvements to the plaza and secured some new tenants and retained others. The grocery store has become a magnet for shoppers across Evanston and beyond.
Frank Schwab of Azzuri told the RoundTable Valli plans to remain in the plaza, and leases for the other tenants would remain. He declined to speak further, saying he was bound by a non-disclosure agreement.