Illinois

Chicago — Pegasus, in cooperation with ParaSell Inc., has arranged the $3.2 million sale of Chatham Plaza, a fully occupied, four-tenant retail strip center positioned within Chatham Market in Chicago. Tenants include Athletico, H&R Block and The UPS Store. The property totals 9,610 square feet, and the weighted average lease term is six years. Katherine Weaver of Pegasus represented the seller, a private fund based in Chicago. The buyer was a Texas-based private fund. The sales price represented a cap rate of 8.5 percent.

Springfield, Ill. — Cushman & Wakefield has brokered the sale of White Oaks Plaza, a 320,933-square-foot regional shopping center located in Springfield. The sales price was not disclosed, but Cushman & Wakefield states that the transaction represents one of the largest open-air shopping center deals in the region’s history. The property is home to more than 50 retailers and is anchored by Kohl’s, as well as T.J. Maxx, HomeGoods and Sierra. Additional tenants include Harvest Market, Chili’s Grill & Bar, Olive Garden, Petco and a freestanding Skechers outlet. The center is …

Hillside, Ill. — JLL Capital Markets has arranged the sale of Hillside Town Center, a 160,330-square-foot open-air retail center located in Hillside, roughly 15 miles west of Chicago. Target shadow anchors Hillside Town Center, which spans six buildings and was 99 percent leased at the time of sale. Other tenants include HomeGoods, Ross Dress for Less, Michaels, Petco and Planet Fitness, who recently signed a new 10-year lease. Michael Nieder and Brian Page of JLL’s Investment Sales and Advisory team represented the seller, Hartford, Connecticut-based Hutensky Capital Partners, in the transaction. …

Algonquin, Ill. — Red Mountain Group has sold Algonquin Commons, a 548,000-square-foot power center located in the Chicago suburb of Algonquin. Nuveen Real Estate purchased the center for roughly $100 million, as reported by Shaw Local. Algonquin Commons is home to tenants such as Trader Joe’s, The Fresh Market, Nordstrom Rack, Bob’s Furniture, Ulta Beauty, Old Navy, Dick’s Sporting Goods and Barnes & Noble. During its ownership, Red Mountain Group has focused on repositioning and restabilizing the center since its acquisition, including increasing occupancy from 60 percent to more than …