Mid-America Real Estate Corporation’s Investment Sales team is pleased to have brokered the sale of two premier shopping centers located in the Chicago area. The two-property sale spans a combined 732,000 square feet in the prominent suburban communities of North Riverside and Elmhurst, Illinois, and presented a rare generational opportunity to acquire two institutional quality retail assets that have been owned by the same family for over 40 years. North Riverside Plaza and Elmhurst Crossing were sold to Brixmor Property Group, a New York-based public REIT.
Elmhurst Crossing is a 347,505-square-foot grocery anchored center located at the northwest corner of Route 83 and St. Charles Road. The center is anchored by Whole Foods, Kohl’s, At Home, and Petco, and further complemented by retail and dining users such as Portillo’s, Pure Hockey, Bath & Body Works, Wells Fargo, and Chick-Fil-A.
North Riverside Plaza is a 384,707-square-foot regional shopping center situated at the southwest corner of Harlem Avenue and Cermak Road just 9 miles west of downtown Chicago. North Riverside Plaza is anchored by national retail category leaders including Kohl’s, Burlington, Best Buy, Petco, Michael’s, and a new grocery store (under construction), and complemented by retail and dining users such as Chick-Fil-A, Chili’s, and T-Mobile.
Mid-America Real Estate Corporation Principal Ben Wineman and Associate Kathryn Sugrue were the exclusive brokers in the transaction, representing the longtime owner of these centers, Montreal, Québec-based Federal Construction.