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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Kohl’s-Anchored Mt. Prospect Retail Trades to CA Buyer

Greenstone Partners sold Mount Prospect Center, a 192,000-square-foot multi-tenant shopping center anchored by Kohl’s and located in the northwest suburb of Mount Prospect, IL. Deal terms weren’t disclosed.

The Chicago-based brokerage represented the seller, an East Coast-based REIT. The property at the corner of Dempster Street and Elmhurst Road received multiple offers before trading to a Northern California-based buyer.

The center’s diverse tenant line-up includes a mix of inline, big box, junior box and outlot tenants. Greenstone said the investment offered the purchaser reliable cash flow from recent long-term tenant renewals, including Kohl’s, while acquiring the property at a substantial discount to replacement cost.

Greenstone Asset Management has been engaged to manage the property for the out-of-state purchaser.

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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).

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