One Liberty buys 2 Chicago retail sites

One Liberty Properties Inc., a Great Neck-based real estate investment trust, has bought two retail properties in metropolitan Chicago for $8 million, bringing the value of its acquisitions so far this year to $24 million.

Before the purchases it owned 91 properties in 29 states, according to its website Friday morning.

The purchases were in tune with its strategy of owning a range of properties across the United States and in diverse segments of the economy, One Liberty said in a Thursday announcement.

Both Chicago-area properties have long-term leases with stores operated by the same retailer, hgregg Inc., a consumer electronics and appliance specialist whose shares are publicly traded on the New York Stock Exchange.

Each of the properties, in Niles and in Crystal Lake, Ill., is more than 30,000 square feet.

"We are pleased to continue to acquire assets that will positively impact our cash flow in a competitive market environment," Patrick Callan, the chief executive, said.

Among One Liberty's tenants on Long Island are a TGI Friday's in Hauppauge, a Ruby Tuesday in Island Park, a Petco in Selden, a DHL building in Melville, International Bonded Couriers in New Hyde Park, L-3 Communications in Hauppauge and Cedar Graphics & Gavin Manufacturing in Ronkonkoma.