Clybourn Galleria, a fully leased, urbanretail center in Chicago's Lincoln Park neighborhood. The24,601-square-foot center is in the midst of the bustling North& Clybourn Retail Corridor across from Trader Joe's andadjacent to Lincoln Yards, a new $1 billion mixed-usedevelopment.
CHICAGO—Worries about big box vacancy has more than ever focused investors' attention on core, well-located,class A properties. Westwood Financial LLC, a LosAngeles-based investment firm, is one of several groups now on abit of a buying spree in the Chicago market. It just acquiredClybourn Galleria, a fully leased, urban retail center in Chicago'sLincoln Park neighborhood. The 24,601-square-foot center is in themidst of the bustling North & Clybourn Retail Corridor acrossfrom Trader Joe's and adjacent to LincolnYards, the new 70-acre, $1 billion, mixed-used development by Sterling Bay.
The purchase price was undisclosed, but CookCounty records show Westwood paid $12.25 million. That wasjust over the $11.75 million paid by the seller, Newport CapitalPartners, in 2013.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
