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Deal for Whole Foods-Anchored Center is Chicago Area’s Largest Retail Sale YTD
JLL Capital Markets closed the $67.25-million sale of and arranged $45.39 million in acquisition financing for Evergreen Plaza in Evergreen Park, IL. The recently redeveloped, 255,249-square-foot neighborhood shopping center is anchored by Whole Foods.
The team of Amy Sands, Clinton Mitchell and Michael Nieder advised the seller, a partnership between funds managed by affiliates of Fortress Investment Group LLC and Lormax Stern. LBX Investments acquired the asset and engaged JLL to place the 10-year fixed-rate acquisition loan with Angel Oak Commercial Lending, LLC.
“Evergreen Plaza represents the largest single-asset retail sale transaction in Chicago year to date and is indicative of capital trends from new investors seeking scalable, market dominant open-air retail,” Sands said. “This is LBX’s first acquisition in the Midwest, demonstrating the strength and potential they see for the asset and the region.”
The JLL debt advisory team representing LBX was led by Christopher Knight and Gregg Shapiro.
- ◦Sale/Acquisition

