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Chicago & Midwest  + South Side  + Retail  | 
The Marshfield Plaza shopping center in Chicago's Morgan Park neighborhood has been placed on the market by PGIM Real Estate

Morgan Park Shopping Center Could Fetch $40M 

PGIM Real Estate has hired CBRE to sell Marshfield Plaza, a 259,400-square-foot property in the South Side’s Morgan Park neighborhood. It’s expected to attract bids in the $40-million range, Crain’s Chicago Business reported.  

The shopping center, which opened in 2010, stretches from 115th to 119th streets on the west side of I-57, with tenants including Burlington, LA Fitness, DD’s Discounts and Old Navy, according to a CBRE marketing brochure. 

Marshfield Plaza includes a Jewel-Osco grocery and drugstore that’s owned separately and isn’t part of the sale. The property also included a Target location that closed in 2018. Chicago-based DL3 Realty bought the store and converted it into a Blue Cross & Blue Shield community center and office, selling the property for $20 million to Brooklyn-based Beitel Realty last year. 

Although Jewel-Osco and Blue Cross don’t pay rent to PGIM, their presence is a plus in drawing traffic to neighboring stores. 

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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 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).

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