Machesney Park, Ill. — Marcus & Millichap has brokered the $4.2 million sale of a single-tenant retail property located in Machesney Park. Walgreens occupies the building. Constructed in 2008, the property totals 14,490 square feet. Joe Sparano, Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the seller, a limited liability company. Steven Weinstock of Marcus & Millichap assisted in closing the transaction. A local 1031-exchange buyer acquired the property.
River Forest, Ill. — Whole Foods Market has signed a long-term lease renewal and expansion at River Forest Town Center in River Forest, approximately 11 miles outside downtown Chicago. In addition to implementing a full remodel, Whole Foods will take over a 7,000-square-foot space formerly occupied by Rally House. Dick Spinell of Mid-America Asset Management and Scott Stefanik of Midwest Commercial Realty arranged the lease. This year marks the 30-year anniversary of Whole Food’s opening at the property.
Chicago — Mid-America Real Estate Corp. has arranged the sale of Marketplace at Six Corners, a 116,941-square-foot shopping center in Chicago. Newmark Merrill purchased the asset for an undisclosed price. Anchor tenants at the property include Jewel-Osco, Marshalls, PetSmart and Famous Footwear. Rick Drogosz of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. Pine Tree managed the center on behalf of the seller at the time of sale.
Park Ridge, Ill. — Mid-America Real Estate Corp. has brokered the sale of Village Green Shopping Center, a 65,038-square-foot retail center located in the Chicago suburb of Park Ridge. The center was 93 percent leased at the time of sale. Tenants at the property include BMO, Lou Malnati’s, Goldfish Swim School, Wheel & Sprocket, Midwest Orthopedics, Westside Children’s Therapy, BFT, FedEx Office and Subway. Ben Wineman and Emily Gadomski of Mid-America arranged the sale on behalf of a private investment group.
Oakbrook, Ill. — Graycor Construction Co. has completed Wonderverse, a 45,000-square-foot entertainment space at Oakbrook Center in suburban Chicago. The project features a hybrid of physical and multi-media experiences, interactive installations, attractions and experiences, allowing visitors to step into their favorite Sony Pictures stories. Sony is the project’s owner. The space includes escape rooms, virtual reality adventures, bumper cars, racing simulators, an arcade and speakeasy. The project team included Scenario as the owner’s representative and EXP as the architect of record.
Chicago — Mid-America Real Estate Corp. has brokered the sale of North & Clybourn, a 68,121-square-foot retail center in Chicago’s Lincoln Park neighborhood. Crate & Barrel and The Container Store anchor the property. Additional tenants at the center include Potbelly, LensCrafters and Sweetgreen. Joe Girardi and Stan Nitzberg of Mid-America arranged the sale on behalf of the private seller. Hines U.S. Property Partners acquired the property for an undisclosed price.
Homewood, Ill. — Marcus & Millichap has arranged the sale of an 11,772-square-foot retail building located in the Chicago suburb of Homewood. U.S. Bank anchors the property. Austin Weisenbeck, Sean Sharko and Adrian Mendoza of Marcus & Millichap represented the seller, a limited liability company. The trio also secured and represented the all-cash buyer, a limited liability company.
Oak Forest, Ill. — Mid-America Real Estate Corp. has arranged the sale of Oak Forest Commons, a 115,754-square-foot shopping center located in the Chicago suburb of Oak Forest. Rick Drogosz, Ben Wineman and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction. First Tek acquired the center for an undisclosed price. The property was managed by Pine Tree on behalf of the seller.
Peoria, Ill. — Cullinan Properties has appointed Michael Gold as president of the company. Prior to joining Cullinan, Gold most recently served as chief operating officer for shopping center owner and operator Pine Tree. During his tenure at Pine Tree, Gold’s teams oversaw more than 20 million square feet of real estate. “Michael’s comprehensive understanding of the industry and proven track record of success make him an invaluable addition to the Cullinan Properties team,” says Diane Cullinan Oberhelman, chairman of Cullinan Properties. Gold will be based in Cullinan’s Chicago office.
Orland Park, Ill. — Mid-America Real Estate has arranged the sale of Orland Park Place, a 649,668-square-foot retail center located in the Chicago suburb of Orland Park. Tenants at the property include Nordstrom Rack, Dick’s Sporting Goods, Marshalls, Ross Dress for Less, Hobby Lobby, Old Navy, Barnes & Noble, DSW, Ashley Furniture and Steinhafels. The center was 87 percent occupied at the time of sale. PMAT acquired the property for an undisclosed price. Ben Wineman, Rick Drogosz and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the …
