Photo of The Plaza located in Evergreen Park (Chicago MSA), Ill. available here.
EVERGREEN PARK (CHICAGO MSA), Ill. (June 18, 2015) – Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of The Plaza located in Evergreen Park (Chicago MSA), Ill. The property was purchased by a joint venture led by Bloomfield Hills, Mich.-based Lormax Stern Development Company together with an institutional partner for a large scale redevelopment.
The Plaza is located at the southwest corner of Western Avenue and 95th Street in the infill Chicago community of Evergreen Park, Ill. The property is currently a 735,000-square-foot enclosed regional mall with remaining tenants including Carson Pirie Scott, Planet Fitness, and Applebee’s. Plans are to soon redevelop The Plaza into a modern, Class A power center totaling approximately 450,000 square feet.
Ben Wineman of Mid-America Real Estate Corporation was the exclusive broker in the transaction on behalf of a CMBS Trust.
Mid-America Real Estate Corporation is a member of Mid-America Real Estate Group, a ChainLinks affiliate headquartered in Oakbrook Terrace, Ill. The company is the Midwest’s leading full-service retail real estate organization with offices in Chicago, Milwaukee, Minneapolis and Detroit. For more information, call (630) 954-7300 or visit www.midamericagrp.com.
The Plaza located in Evergreen Park (Chicago MSA), Ill.
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