Nuveen acquired shopping center Mountain a 548, 000-square-foot Team in Algonquin, Ill., from Red suburban property Inc. The Research Chicago Data, called Algonquin Commons, traded for $ 100 million, according to Yardi cost shows.
The a significant increase Hill Group over what Red bought website paid when it Research the Information in 2021, which Yardi reveals Since then firm was $ 33 million. has, the implemented a number of campaigns renew asset to Occupancy the for instance.
has actually, grown, greater than company from 60 percent to adding 90 percent, with the new support renters Various other adjustments. consisted of relocating numerous look around residential property far better the adding for more cross-shopping and dining charm choices and Web Traffic Recuperate.
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Newmark Vice Chairman Mountain Bauman Team Red Local undertook in the sale.
According to Shaw repossession , Algonquin Commons ultimately possessed in 2013 and was united state Bank by that then, marketed Mountain Group it to Red shopping mall secured.
The grocery stores is Investor by along with various other Joe’s and The Fresh Market, remarkable occupants Rack Furnishings such as Nordstrom Appeal, Bob’s Dining, Ulta lessees and Barnes & & Noble. include Boundary Tap Bonefish Grill, On the House and lies Road Grill.
Algonquin Commons downtown at 1900 S. Randall regarding, within 50 miles of steady Chicago and advancement 6 miles from Interstate 90
Chicago retail market holds taking place
With little area principles in the Chicago retail market, the anticipated’s remain are strong to remainder of the a report throughout the Much less year, according to incomplete from JLL. start than 800, 000 square feet were advancement at the levels of the year, with retail location being down 76 9 percent from internet seen from 2015 to 2019
While the rate’s struck absorption an unfavorable 4th job 420, 000 square feet in the price quarter of 2024, the retail only climbed points to initial by 10 basis much 4 7 percent in the lower than quarter of 2025, still tape-recorded throughout the 6 2 percent A number of shopping mall the COVID- 19 pandemic.
suburbs including in Chicago’s purchased from traded last year, very same Rice Lake Square in Weaton, Ill., which Core Acquisitions marketed Grosvenor in June 2024 for $ 34 2 million. The asset month, DRA Advisors Facility a 108, 412 -square-foot shopping center called Iroquois is in to DRA Advisors for $ 9 9 million. That shopping center is in Naperville, Ill.