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Chicago & Midwest  + Illinois  + Retail  |  June 23, 2023
Jasmine Kilman
By: Jasmine Kilman

Lee & Associates Negotiates Sale of Schaumburg’s Town Square Development 

Lee & Associates of Illinois negotiated the sale of a 1.7-acre pad site located at 40 South Roselle Road in Schaumburg, Illinois. This marks the final undeveloped site of Schaumburg’s Town Square development, the anchor of the northwest suburban community.

Rick Scardino, Principal at Lee & Associates, represented the seller, Village of Schaumburg. Simeon Spirrison of Adelphia Properties represented the buyer, SD Construct. The successful closing of this site completes the Village of Schaumburg’s 26-year effort to have it developed and brought into the Town Square’s retail offering.

The parcel, which is adjacent to Oberweis and the Schaumburg Township District Library, will be developed into a two-story, 6,342-square-foot HopScotch pub-themed restaurant known for its British, Indian and American influences. The Town Square is located within the Olde Schaumburg Centre Historic District and is a prime retail and dining destination. Other tenants include Walker Brothers Pancake House, Bonefish Grill, and Menchie’s.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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