Chicago & Midwest + North Side + Retail | May 17, 2022

Elston Logan Plaza, a retail center anchored by HomeGoods on Chicago's North Side, sold in a deal arranged by Mid-America Real Estate

HomeGoods-Anchored Retail Center Trades for $29M

Mid-America Real Estate Corporation’s Investment Sales team arranged the sale of Elston Logan Plaza, a successful 56,080-square-foot HomeGoods-anchored shopping center located along the Elston Corridor on Chicago’s North Side.

Principal Joe Girardi and VP Emily Gadomski brokered the transaction on behalf of the seller, Novak Construction Company. Elston Logan Plaza was sold to Newport Capital Partners for $29,250,000.

Leased to a diverse array of national retailers, Elston Logan Plaza is anchored by the most visited HomeGoods store in the Chicago metro area, with more than 702,100 visits annually. Complementing the dominant soft goods retailer is lineup of restaurant, specialty, service, and wellness tenants, including Chipotle, Potbelly, Forever Yogurt, David’s Bridal, Verizon, T-Mobile, The Vitamin Shoppe, The Joint Chiropractic, European Wax Center, Salon & Barber Shop, and Nail Secrets.

Connect

Inside The Story

Mid-America's Girardi and Gadomski

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).