GRANITE CITY, Ill. — A Metro East shopping center that was recently revitalized with new stores is on the auction block.
Nameoki Commons, a 16.44-acre shopping center located at 3521 Nameoki Road in Granite City, is being sold in an online auction to be held Tuesday through Thursday this week, according to the auction site.
The starting bid is $4 million, according to the auction listing.
Owned by Webster Lake Investments LLC of Cummings, Georgia, Nameoki Commons has about 155,406 square feet of retail space over seven buildings, including outlots, as shown in the listing. Webster Lake purchased the property at auction in 2020 for $5.75 million, according to Madison County property records.
The company's owners are planning for retirement and liquidating the firm's commercial real estate assets, with Nameoki Commons as the first up for auction this year, said the broker for the auction, Vice President Chase Murphy of Atlanta-based Skyline Seven Real Estate.
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