Commercial real estate news and analysis for the Chicago market.
A 54,000-square-foot retail property in one of Chicago's most established shopping districts has traded hands in a deal brokered by Greenstone Partners. The transaction highlights continued investor appetite for well-positioned urban retail assets despite broader market headwinds.
A 54,000-square-foot retail property in Chicago's competitive Clybourn Corridor has changed hands in a $19.5 million transaction brokered by Greenstone Partners. The deal signals continued investor appetite for well-positioned neighborhood retail in the city's North Side.
Gantry has successfully brokered $42.8 million in permanent loans to refinance four distinct retail assets located in California, Illinois, Oregon, and Wisconsin. The transactions, managed by Andy Bratt and Sean Kuang, highlight continued lender interest in grocery-anchored and essential retail across diverse geographic markets.
MetLife Investment Management has divested Overlook at Oakbrook, a 52,876-square-foot unanchored retail strip center in Chicago's western suburbs, for $44 million. The transaction highlights continued investor appetite for well-located assets in the affluent Oak Brook market.
Chicago's retail vacancy rate has fallen to 4.9% — near a 30-year record low — with Gold Coast rents topping $300 per square foot and Southport corridor hitting zero vacancy, even as downtown corridors continue to struggle.