Since 1992, Preferred Realty Advisors have developed over 46 freestanding triple net leased Walgreens throughout the Midwest. In addition, they have acted as both consultant and broker for the sale of 82 Walgreens to 1031 Exchange clients, syndicators, individuals, and family offices.

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GSA & State Agencies

Over the past several years, Evan Oliff of Preferred Realty Advisors, has played a national role as principle, general partner, advisor and broker to an array of GSA & State Agency leased assets, including properties directly occupied by the DEA, DHS, FBI, NARA, ICE among other agencies. He is currently working with several State Agencies on performing build to suit facilities.

Case Study:

Chanute Air Force BaseRantoul, Illinois

The Opportunity

In 1993 Preferred Development & Amerinvest, International (a Chinese Based firm) purchased a large portion of the former Chanute Air Force Base that comprised twenty buildings including a 220,000 sf former enlisted officers’ quarters and a golf course with the intent to create both public and private uses for the property.

The Challenge

Extensive upgrades and modifications were needed to bring the existing structures up to standard. Furthermore, in order to generate interest and encourage play from the community, the golf course was upgraded with new greens, re-grading of fairways and bunkers in addition to the installation of a new drainage system.

The Result

“The EOQ was converted into a 280-room independent and assisted living facility known as Prairie Village Retirement Community, which Preferred continues to own and operate today. Several other buildings have become what is now called Lincoln’s Challenge Academy, a youth National Guard program for teens. The golf course was upgraded with new greens, re-grading of fairways/bunkers and new drainage system. It continues to successfully function as a Willow Pond public golf course.”

Preferred understands the needs and mindset of our federal agency!
A GSA officer in the Great Lakes District, headquartered in Chicago

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Preferred Development and Preferred Realty Advisors have been associated with free-standing, in-line, and mixed use urban properties that contain both high-end apartments and office space. We provide a superior level of management and tenant satisfaction due to our philosophy that “the best tenant is the tenant who occupies the property already”.

Some Urban Retail examples


We’re a major player in the
Bucktown, Wicker Park, Ukrainian Village
Retail and Residential Urban Market

A rural retail location anchored by Kroger, CVS & Dollar Tree


We truly enjoy transforming properties in smaller towns, the impact is much greater to the community!


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Preferred has become very enthusiastic about the Northern Indiana Industrial Marketplace!


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