Illinois

Orland Hills, Ill. — Northmarq has arranged the sale of Orland Towne Center in Orland Hills, 34 miles from Chicago. The 138,000-square-foot retail center is home to Aldi, Edge Fitness, Five Below, PetSmart and Duly Health and Care. In addition to brokering the sale, Northmarq’s Jeff Frankel also arranged a $14.6 million first mortgage loan on behalf of the buyer, Sperry Equities. A life insurance company provided the fixed-rate loan, which features a 10-year term and a 30-year amortization schedule.

Rockford, Ill. — Quantum Real Estate Advisors Inc. has arranged the sale of Rockford Commons, an 89,000-square-foot shopping center in Rockford. Ross Dress for Less and Best Buy anchor the property, which was fully leased at the time of sale. Chad Firsel of Quantum represented the seller, Core Acquisitions LLC. Daniel Waszak of Quantum represented the buyer, a Dallas-based REIT. The sale also included an outparcel for future development.

Orland Park, Ill. — Quantum Real Estate Advisors Inc. has arranged the sale of a single-tenant retail building occupied by REI in Orland Park, a southern suburb of Chicago. The property was fully renovated in 2021 and leased to REI on a long-term net lease. Chad Firsel of Quantum represented the seller, a Chicago-based development group. George Pino of Commercial Brokers International represented the buyer, a California-based private investor.

Schaumburg, Ill. — A joint venture between PCCP and KPR Centers has acquired Schaumburg Corners, a 160,301-square-foot shopping center in the Chicago suburb of Schaumburg. The purchase price was undisclosed. Anchored by Amazon Fresh, the fully leased property was also home to Bob’s Furniture, Office Depot, Petco and H Mart at the time of sale. Kensington Development Partners was the seller.