Sterling Buys 83 Percent of Chicago’s Golf Mill Shopping Center for $60 Million

Niles, Ill. – Nearly 350,000 people live within a five-mile radius of the property, where the average household income is more than $85,000.

Niles, Ill. – Sterling Organization has purchased 912,382 square feet of the 1.1 million-square-foot Golf Mill Shopping Center in Niles, Ill., a suburb of Chicago. The property was purchased through the firm’s institutional fund Sterling Value Add Partners LP, for a total purchase price of $60 million. The family that originally developed the shopping center over 50 years ago was the seller. Golf Mill is situated on approximately 80 acres of land, is anchored by Target, Kohl’s, AMC Theatres, Ross Dress for Less, J.C. Penney, Sears, XSport Fitness, Shop-N-Save, GFS Marketplace and Value City Furniture, and is currently 96 percent occupied. A nine-story medical/professional building was also included in the transaction.

  Scott Reid

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