Thank you for sharing!

Your article was successfully shared with the contacts you provided.
chi-mortongroveretail (2) The 310,000-square-foot Prairie View Plaza Shopping Center in Morton Grove, IL, now looks old-fashioned, and needs to be redeveloped.

CHICAGO—Most experts agree that many areas of the US are over-retailed, and it’s going to take a lot of work to reconfigure these outdated properties. Oak Brook, IL-based Kensington Development Partners, along with its partner IM Properties, is about to launch one such effort in the Chicago suburb of Morton Grove. The partners just completed the acquisition of the town’s 310,000-square-foot Prairie View Plaza Shopping Center and plan to complete a long-delayed repositioning and redevelopment of the 26-acre property.

The sale price for the property, 6763 Dempster St., was not disclosed, but Cook County property records show Kensington paid $11.3 million. The seller, which was represented by Edgemark Properties, was Canadian-based Federal Construction, Inc.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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.

More from this author

GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.