Retail N Illinois
Flagships and the suburbs driving retail in Chicago

Flagships and the suburbs driving retail in Chicago

A growing economy and corporate expansions have led to escalating household incomes, providing consumers increased discretionary funds. According to Marcus & Millichap’s latest market report, retailers have taken notice. Activity in the suburbs improved over the rest of the metro in the last year, while new flagship stores have come to or are planned for Chicago’s urban core.

Retail N Illinois
J.C. Anderson completes build-out for Merchandise Mart showroom

J.C. Anderson completes build-out for Merchandise Mart showroom

J.C. Anderson has completed an office renovation for Fortune Brands Global Plumbing Group (GPG) at the Merchandise Mart, 222 W. Merchandise Mart Plaza, Chicago. GPG is a division of Deerfield, Illinois-based Fortune Brands Home & Security, Inc. with a portfolio of global kitchen and bath brands including Moen, Riobel, Perrin & Rowe and The House of ROHL.

Retail N Illinois
High-traffic infill location sells in Berwyn for $1.3 million

High-traffic infill location sells in Berwyn for $1.3 million

Marcus & Millichap announced the sale of a 7,000-square foot retail property on a 31,000-square-foot lot located at 3745 S. Harlem Ave. in Berwyn, Illinois. The asset is located within an infill location near a high-visibility corner with traffic lights and excellent traffic counts, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $1,300,000.

Retail N Illinois
Pine Tree tapped to operate north suburban shopping center

Pine Tree tapped to operate north suburban shopping center

Pine Tree, LLC has assumed operational responsibility for Bannockburn Green, a 183,792-square-foot community shopping destination located in the affluent northern Chicago suburb of Bannockburn, Illinois. The Chicago-based company has been engaged by the property’s owner, AP POB Bannockburn, LLC, to handle asset management and property management responsibilities for the shopping center.

Retail N Illinois
Berman Subaru, at 4330 and 4444 Irving Park Road in Chicago, which The Missner Group designed to include a high-end customer lounge.

Auto dealerships steer toward experiential retail

As brick-and-mortar retail battles the onslaught of e-commerce, a movement has grown toward experiential sales. If fewer customers are coming out to shop for physical goods, then sell them an experience instead. It’s quite difficult, after all, to ship 20 minutes of indoor skydiving from an overseas supplier.

Retail Q Kentucky
Hall of Fame profile: Marcus & Millichap's Larry Hausman

Hall of Fame profile: Marcus & Millichap's Larry Hausman

Each year, Midwest Real Estate News runs its Commercial Real Estate Hall of Fame issue, highlighting the careers of the top CRE pros in the Midwest. This year, we are also running those profiles online. Today, we look at the thriving career of Larry Hausman, first vice president of investments with the Louisville office of Marcus & Millichap.

Retail N Illinois
McKinley Park strip center sells for $1.8M

McKinley Park strip center sells for $1.8M

Marcus & Millichap announced the sale of a 9,600-square-foot retail property located 3160-3170 S. Ashland Avenue in Chicago, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. After the seller received multiple offers, the asset sold for $1,800,000, or 7.5 percent above list price, to a Chicago-based non-1031 exchange buyer.

Retail Q Kentucky
The Summit at Fritz Farm development has brought new energy to Lexington.

Commercial strength not fading in Lexington

The Lexington, Kentucky, commercial real estate market continued to show strength during the first half of 2018. That strength should continue in 2019 with vacancy rates remaining low across multiple sectors, increasing demand in every category and strong demand for retail and industrial properties.