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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Private Fund Picks Up Wilmette Neighborhood Center

JLL Capital Markets closed the sale of Westlake Plaza, a 42,018-square-foot neighborhood shopping center in the Northshore community of Wilmette, IL. It’s one of only three neighborhood centers within the market.

A team led by Amy Sands and Clinton Mitchell represented the seller, Chicago-based Newport Capital Partners. A private real estate fund advised by Crow Holdings Capital purchased the asset for an undisclosed sum.

The center is 83% leased to a variety of internet-resistant tenants, including Supercuts, Subway, Dunkin’ Donuts, Westlake Chiropractic HealthCare Center, Finest Fit Cleaners, Ivy Cleaners, Mei Lin House and Professional Eye Care. Situated on 2.5 acres at 3207 Lake Avenue, Westlake Plaza boasts a customer base of some 110,000 residents earning an average annual household income of $182,250 who live within a three-mile radius.

Connect Industrial Midwest is coming to Rosemont, IL on March 4. For more information, or to register, click here.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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