Oak Park, Ill. — SRS Real Estate Partners has arranged the sale of a 22,000-square-foot retail real estate property leased to Target in Oak Park, located nine miles west of Chicago.
The small-format Target features a full-service CVS/pharmacy and a Starbucks Coffee. Built in 2017, the store is the ground-floor retail component of The Emerson, a mixed-use development that includes 271 residential units. Britt Raymond, Matthew Mousavi, Patrick Luther and Kyle Fant of SRS represented the New York-based buyer. A Chicago-based developer was the seller. Target launched its new small-format concept three years ago and now has eight stores open in Chicago, with two more slated to open this year and four scheduled to open in 2019.