Photo of The Shops on Elm Place available here.
CHICAGO (December 20, 2019) – Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of The Shops on Elm Place in Highland Park, Illinois. The 35,672 square-foot retail center was purchased by Chicago-based Northpond Partners for $4.425 million.
The Shops on Elm Place is located just 25 miles north of downtown Chicago in the affluent, dense North Shore community of Highland Park. The center is situated in the middle of its dynamic downtown district, which features strong upscale retail offerings including Anthropologie, Blue Mercury, Pottery Barn, Starbucks, Free People, Panera Bread, Landmark Theatres, Sunset Foods, and Walgreens. Additionally, the surrounding area boasts one of the most affluent population centers in the country. The North Shore consists of some of the wealthiest suburbs in Chicago, including Highland Park, Wilmette, Kenilworth, Winnetka, Glencoe, and Evanston.
The mixed-use neighborhood center is 57% leased to a largely “internet-proof” line up of retail, service, and dining tenants including The BBQ Pit, Love’s Yogurt, Studio Lagree, and Berkshire Hathaway. Additional retail consumer traffic is generated by the center’s office tenants such as FreshSkin, United State Holocaust Memorial Museum, and more.
Mid-America Real Estate Corporation Principal Ben Wineman and Vice President Carly Gallagher were the exclusive brokers in the transaction on behalf of a private seller.
Mid-America Real Estate Corporation is a member of Mid-America Real Estate Group, a ChainLinks affiliate headquartered in Chicago, Ill. The company is the Midwest’s leading full-service retail real estate organization with offices in Oakbrook Terrace IL, Chicago, Milwaukee, Minneapolis and Detroit. For more information, call (630) 954-7300 or visit www.midamericagrp.com.
Mid-America Real Estate: www.midamericagrp.com