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Institutional Buyer Snaps Up Oak Brook Shopping Center
Mid-America Real Estate Corporation’s investment sales team recently brokered the sale of The Shops at Oak Brook Place in Oak Brook, IL. The 177,165 square-foot, trophy-quality shopping center was purchased by an institutional buyer for a reported $75.3 million.
Principals Rick Drogosz and Joe Girardi of Mid-America were the exclusive brokers in the transaction on behalf of a Canadian REIT.
Approximately 15 miles west of downtown Chicago, The Shops at Oak. Brook Place benefits from demographic advantages in categories ranging from daytime population to income levels.
The center is anchored by an array of national tenants including Nordstrom Rack, TJ Maxx, Ulta, Old Navy and Nike. The Shops also benefits from being located less than half of a mile from Oakbrook Center, said to be the dominant open-air regional mall in the Chicago metro area.
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- ◦Sale/Acquisition

