Retail N Illinois

JLL closes sale of suburban Chicago retail center

JLL closes sale of suburban Chicago retail center,ph1

JLL has closed the sale of Mallard Crossing, an 80,708-square-foot, ALDI-anchored retail center in the northwestern Chicago suburb of Elk Grove Village, Illinois. JLL represented the seller, IRC Retail Centers, and procured the buyer, a vehicle sponsored by AmCap Management. Terms of the deal were not disclosed.

The JLL Capital Markets team that represented the seller was led by Executive Vice President Janice Sellis. Mallard Crossing’s anchor tenants—Aldi, Ross Dress for Less and Dollar Tree—signed long-term leases within the past year. Non-owned tenants at the property include Walmart and McDonald’s. The property was recently renovated to include improvements such as a new roof, parking lot and façade modernization.

Located at 851-933 Meacham Road, the property is at the northeast corner of Meacham and Nerge Roads, which is visible to more than 38,000 vehicles per day. The town of Elk Grove Village is immediately adjacent to O’Hare International Airport and near the nation’s largest industrial park consisting of 62 million square feet of space and more than 5,600 businesses. The center is in an affluent neighborhood with more than 80,000 residents earning an average annual household income of more than $100,000 within a three-mile radius.