Regency Centers has commenced construction on the redevelopment of Riverview Plaza, a 140,460 square foot neighborhood center located in the affluent Roscoe Village neighborhood of Chicago. Opening their first location within the City of Chicago, Mariano’s Fresh Market has leased 51,298 square feet and is slated to open in late Summer 2011.
The $14 million redevelopment will include a new exterior façade, upgraded architectural components, parking lot improvements and new walkways, site lighting, landscaping and signage. All retailers will remain open during the redevelopment which is scheduled for completion in the Fall.
Located six miles northwest of downtown Chicago, Riverview Plaza features a 38,580 square foot Toys”R”Us/Babies”R”Us, remodeled last year, alongside national retailers such as Quiznos, RadioShack, Payless Shoes, GNC and Walgreens. The 93 percent leased center is located at 3330 N. Western Avenue.
The center was built in 1981 and acquired by Regency in 2005. Regency currently owns 18 shopping centers in the Chicago market totaling 2.6 million square feet.