Illinois

Deer Park, Ill. — A joint venture between AEW Capital Management and Brand Street Properties has acquired Deer Park Town Center, a 410,000-square-foot open-air center located in Deer Park, approximately 35 miles northwest of downtown Chicago. The purchase price of $125 million marks the highest price paid for a Chicago-area retail property in a decade, according to Crain’s Chicago Business. Deer Park Town Center is home to more than 60 tenants, including Apple, Crate & Barrel, Williams Sonoma, Gap, lululemon, Anthropologie and Sephora. Restaurants include Biaggi’s Ristorante Italiano, Sweetgreen, Stoney …

Highland Park, Ill. — Marcus & Millichap has brokered the $7.7 million sale of Garrity Square, a 20,000-square-foot retail property located in Highland Park, approximately 25 miles north of downtown Chicago. The 13-suite center is anchored by a freestanding Starbucks that has operated at the property since 2002, alongside long-tenured food, medical and daily-needs tenants. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller and procured the buyer, a private investor, in the transaction.

Chicago — Mid-America Real Estate Corp. has negotiated the sale of Lincoln Park West, a 37,615-square-foot retail property located in Chicago’s Lincoln Park neighborhood. The property offers value-add potential through the lease-up or adaptive reuse of the 19,531-square-foot second floor. Tenants include PNC Bank, Starbucks Coffee, RJ Grunts (Lettuce Entertain You) and Lincoln Park Preschool. The weighted average lease term is seven years. George Ghattas, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, LLJ Ventures. A private local investor was the buyer.