Mid-America Real Estate Corporation’s investment sales team recently brokered the sale of St. James Crossing in Westmont, Illinois. The 49,994-square-foot center was purchased by St. Louis-based Bianco Properties, the firm’s sixth acquisition in the Chicago MSA. Terms of the deal were not disclosed.
St. James Crossing is located at the northwest corner of Route 83 and Ogden Avenue. The shopping center is anchored by a mix of national and regional tenants including Grill 89, Urban Tri Gear, Citrus Diner, Club Pilates and Apple Valley Natural Foods.
“The acquisition of St James Crossing adds another strong property to our suburban Chicago portfolio,” said Josh Bacott, vice president, acquisitions of Bianco Properties. “With proximity to four major highways, the center is ideally located to serve the residents and businesses throughout Westmont and neighboring villages of Hinsdale, Clarendon Hills and Downers Grove.”
Bianco’s Chicago portfolio includes two retail properties in the West Loop and prominent retail shopping centers in the densely populated markets of Downers Grove, Harwood Heights and Morton Grove. Its primary focus is retail and industrial investment opportunities with an objective to continue expanding its presence in Chicago and other key markets.
Mid-America Real Estate Corporation principals Rick Drogosz and Joe Girardi were the exclusive brokers in the transaction on behalf of the seller, Oak Brook, Illinois-based IRC Retail Centers.