Illinois

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 …

Naperville, Ill. — Mid-America Real Estate has brokered the sale of Pebblewood Commons, a 20,427-square-foot neighborhood center located in Naperville, a southwestern suburb of Chicago. Originally built in 2008 on 3.5 acres, the center is fully leased and features a mix of tenants including Starbucks Coffee, Firehouse Subs, FedEx and Sherwin-Williams. Joe Girardi and Patrick Corrigan of Mid-America represented the seller, Schiller Park, Illinois-based Northern Builders in the transaction. The center was acquired by Curbline Properties.

Evanston, Ill. — Chicago-based Continuum Development has purchased Church Street Plaza, a 144,833-square-foot retail center located near Northwestern University in Evanston for $31.2 million. Originally built in 2000 and redeveloped in 2023, the property is 98 percent leased to tenants including Sky Zone and AMC Theatres, among others. Continuum Development is also leading a proposal for a 27-story apartment tower at Church and Clark Streets that would comprise 358 units and 2,900 square feet of ground-level retail.

East Peoria, Ill. — JLL Capital Markets has arranged the $21 million sale of The Levee District, a 137,304-square-foot, open-air retail power center located within the central Illinois town of East Peoria. Developed in 2013 on 11 acres, The Levee District consists of three buildings that are 94 percent leased. Tenants include Ulta Beauty, Best Buy, Ross Dress for Less and Boot Barn. The center is also shadow-anchored by Target, McDonald’s, Panera Bread and Red Robin. Michael Nieder and Brian Page of JLL’s investment sales and advisory team represented the seller, …

Lombard, Ill. — Marcus & Millichap has brokered the $5.6 million sale of Highlands of Lombard, a 16,223-square-foot strip center located in the Chicago suburb of Lombard. Built in 2007, the six-suite property is situated across from Yorktown Center mall. The property — which was fully occupied at the time of sale — features a mix of food, health and service-based tenants. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap procured the out-of-state buyer and represented the seller, a Chicago-based private investor who had owned the property …

Aurora, Ill. — Locally based Quantum Real Estate Advisors Inc. has arranged the $2.8 million sale of Eola Crossing, a 14,238-square-foot retail center located in Aurora, roughly 40 miles west of Chicago. At the time of sale, the property was 90 percent leased to tenants such as Subway, Dunkin’, Wing Snob and Smile Family Dental. Dan Waszak and Brett Berlin of Quantum represented the seller, a Florida-based public REIT. The buyer was an Illinois-based private investor.