X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO­Investors have bought two retail centers, one in the city of Chicago, and the other in suburban Wheaton, IL, both anchored by a Dominick’s Finer Foods store (division of Safeway). Both of the investment sales were arranged by CB Richard Ellis.

The west suburban property is Danada Square East, which is a 202,350-sf retail center at the northeast corner of Butterfield and Naperville in Wheaton. In addition to Dominick’s, major tenants include Petco, MC Sporting Goods, Blockbuster Video, an IHOP Restaurant and Mid-American Bank. Built in 1989, the center is currently about 95% leased. It was bought by CA-based American Realty Advisors. Seattle-based Kennedy Associates Real Estate Counsel Inc. was the seller.

The urban property is Old Town Square, an 87,210-sf neighborhood center at the northeast corner of Division Street and Clybourn Avenue on Chicago’s Near North Side. In addition to Dominick¹s, the center, completed in 1998 in this gentrifying neighborhood, is 100% leased to Starbucks, AT&T Wireless and Blockbuster Video. Des Moines, IA-based Principal Life Insurance Co. bought the property from Old Town Square Shopping Center LLC. Although sales price was not disclosed, a published report estimated the price as greater than $18 million.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.