Algonquin, Ill. — Marcus & Millichap has negotiated the $5.6 million sale of a newly built retail property occupied by Chipotle Mexican Grill and First Watch in Algonquin. The 6,150-square-foot building is located at 1721 S. Randall Road within The Enclave mixed-use development. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, an undisclosed developer, in the transaction. Darpan Patel and Dan Yozwiak of Marcus & Millichap procured the out-of-state buyer.
Waukegan, Ill. — Marcus & Millichap has brokered the $2.8 million sale of Grand Plaza East, a 36,018-square-foot retail center located in Waukegan, roughly 37 miles south of downtown Chicago. Built in 1972 on nearly three acres, the five-suite retail property is anchored by Domino’s Pizza. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, an Illinois-based corporation, and procured the buyer, a private investor.
Forest Park, Ill. — Greenstone Partners has negotiated the $8.4 million sale of Circle Plaza, an 18,486-square-foot, multi-tenant retail center located in Forest Park, roughly 10 miles west of Chicago. Brewster Hague and Connor Sheedy of Greenstone brokered the sale. Circle Plaza is fully occupied and is home to Dunkin’ Donuts, Pep Boys, Bloc Dispensary, HEAL Wellness and Sploot Veterinary Care. Originally developed in 1984, the property has mostly maintained 100 percent occupancy throughout its history.
Wheaton, Ill. — Marcus & Millichap has brokered the $4.4 million sale of a two-tenant retail property located in Wheaton, approximately 25 miles west of downtown Chicago. Chipotle Mexican Grill and Scout Veterinarian Urgent Care occupy the 5,849-square-foot center, which was built in 2023. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a local developer and repeat client of the Sharko | Weisenbeck | Mendoza Group. Darpan Patel and Dan Yozwiak, also of Marcus & Millichap, procured the buyer, an Ohio-based private investor.
Chicago — Zaxby’s has signed a franchise agreement with a local entrepreneur to open seven new restaurants in Chicago. The development plans follow a separate multi-unit agreement signed in Chicagoland in 2025, along with the first restaurant in Plainfield, Illinois, earlier this year. Zaxby’s currently has more than 1,000 locations in 22 states and is headquartered in Atlanta.
Moline, Ill. — Gantry has secured a $12 million permanent loan to refinance maturing debt for Rock River Plaza, a 389,375-square-foot power center located in the northwestern Illinois city of Moline along the Mississippi River. Walmart and Lowe’s anchor the center, which features additional tenants such as Marshalls, Five Guys, Chick-fil-A, Applebee’s and AT&T. Joe Monteleone and Rulin Dai of Gantry represented the borrower, a private real estate investor. A CMBS lender provided the five-year, fixed-rate loan, which features interest-only payments for the full term.
Chicago and Romeoville, Ill. — United Properties Corp. has acquired Bishop Plaza, a 76,000-square-foot retail center in Chicago, for $11.5 million. The company also purchased the Shops at Romeoville, an 82,687-square-foot shopping center along the South Weber Road corridor in Romeoville, for $11.1 million. The Shops at Romeoville is home to tenants such as T.J. Maxx, Ross Dress for Less, Petco and Five Below. Based in East Meadow, New York, United Properties owns and operates shopping centers across 22 states.
Baltimore and Hillard, Ohio — Continental Realty Corp. has purchased a 14-property shopping center portfolio located across seven states in the Southeast and Midwest. The Baltimore-based firm purchased the more than 2 million-square-foot portfolio from Hillard-based US Properties Group for an undisclosed price. Chris Decoufle and Kevin Hurley of CBRE represented the seller in the off-market transaction. The acquisition grows Continental Realty’s holdings to nearly $5 billion in assets under management and expands its geographic footprint to 16 states, including its entry into Ohio. The portfolio was 93 percent leased at …
Skokie, Ill. — Greenstone Partners has brokered the $3.9 million sale of Gross Point Crossing, a 19,000-square-foot retail center located in Skokie, approximately 15 miles northwest of downtown Chicago. Brewster Hague and AJ Patel of Greenstone represented the seller, a Chicago-based private investor, and procured the buyer, an Ohio-based private real estate investment firm. The value-add property was 67 percent occupied at the time of sale. Located at the intersection of Gross Point Road and Dempster Street, Gross Point Crossing features a mix of food and service-oriented tenants, such as …
Buffalo Grove, Ill. — Associated Bank has provided a $22.6 million loan for the redevelopment of a former grocery store located at 1160 W. Lake Cook Road in Buffalo Grove, roughly 30 miles northwest of downtown Chicago. The acquisition also included an outparcel. Dubbed Chase Plaza, the project will convert the 66,083-square-foot vacant space into a two-tenant, grocery-anchored retail building occupied by Sprouts Farmers Market and Club Studio. Daniel Barrins of Associated Bank arranged the loan on behalf of the borrower and developer, Shorewood Development Group.
