Mid-America Real Estate Corporation closed the disposition of two former Transformco assets in Round Lake Beach, Illinois, and Michigan City, Indiana.
The transactions reflect the ongoing strength of Midwest retail real estate and the growing demand for large-format redevelopment opportunities.
Round Lake Beach, Illinois – Former Kmart Sold to Target Stores
The property located at 400 E. Rollins Road in Round Lake Beach – formerly a 190,174 SF Super Kmart – has been sold to Target Stores.
Positioned within the established Rollins Crossing retail corridor, the site benefits from high daily traffic counts and adjacency to major national retailers including Meijer, LA Fitness, Regal Cinemas, Petco, and others. The area serves a strong and diverse consumer base with robust household demographics and continued commercial growth. This acquisition provides Target with a prime redevelopment opportunity in a dense northern Lake County trade area.
Michigan City, Indiana – Former Sears Sold to Tonn and Blank Construction, LLC
The former Sears and Sears Auto Center complex located as part of the Marquette Mall at 3901 Franklin Street, totaling 92,905 SF and 12,365 SF respectively on 13.23 acres, has been sold to Tonn and Blank Construction, LLC.
The site is strategically positioned within the Marquette Mall corridor with multiple access points along Franklin Street, St. John Road, and U.S. Route 20, as well as close proximity to the I‑94 interchange. Strong traffic counts and wide redevelopment optionality make the Michigan City property an attractive long‑term investment.
Mid-America Real Estate’s Andy Bulson, Mike Phillips, Dick Spinell, and Mike Fitzgerald represented Transformco in both transactions.
