Another Mariano’s-anchored shopping center fetches a hefty price
A Glenview shopping center has sold for almost $70 million, the highest price yet for a property anchored by a Mariano’s Fresh Market grocery store… ..Before you were getting the real estate and the concept, and now you’re also also getting the Kroger credit,” said retail broker Robert Melsher, a principal at Highland Park-based Metro…
Three retail tenants now open at Chicago’s Pulaski Promenade
Metro Commercial Real Estate has announced the opening of three anchor tenants at the 133,000-square-foot Pulaski Promenade in the Archer Heights neighborhood of Chicago–Marshalls, PetSmart and Shoe Carnival. Two others are set to join in Spring 2016: Michaels and Ross Dress. REJournals // Staff Writer // View the Full Article
Skokie keeps busy with new economic development proposals
The strip shopping center on the 4800 block of Golf Road across from Westfield Old Orchard’s Nordstrom has had a vacancy for years — and now an additional one since Golf Galaxy recently closed. The Burlington Coat Factory has already held two job fairs to prepare for its near-future opening, said Skokie Director of Marketing…
Stony Creek moves to second phase in Oak Lawn
An upscale restaurant appears to be the mostly likely addition when Phase II of the Stony Creek Promenade is developed in Oak Lawn… …He said the developer has hired Metro Commercial Real Estate to help find tenants. Chicago Tribune // Steve Metsch // View the Full Article
Construction Begins on 10,800 SF Retail Building in Lockport, Ill.
Construction has begun on a 10,800-square-foot retail building at the 77-acre Lockport Square Shopping Center in Lockport. The property is located at the intersection of I-355 and 159th Street (IL Hwy 7). The multitenant retail building is located on a 1.3-acre site fronting 159th Street, providing high visibility for the property’s retail tenants. REBusinessOnline //…
Baby, It’s Cold Outside – Time to Play Tennis
The thermometer reads 5 degrees on a recent weekday afternoon, with the wind chill even lower. So Steven Baer layers up before stepping on to a paddle tennis court at Northmoor Country Club in Highland Park. Crain’s Chicago Business // Shia Kapos // View the Full Article
Burlington to open Crystal Lake store at Toys R Us, former Marshall’s location
National clothing and home goods retailer Burlington plans to open a 58,411-square-foot store in the Commons of Crystal Lake this fall that could employ up to 100 people. The Burlington, New Jersey-based company made the announcement Wednesday. The store will be at 6120 Route 14 in Crystal Lake. Northwest Herald // View the Full Article
Beelow’s Steakhouse coming to Highland Park
Beelow’s Steakhouse is coming to Highland Park this winter, moving into the vacant location adjoining the Landmark Renaissance Place Cinema on Second Street. Beelow’s, a Lake Zurich restaurant, will open its second location at 1850 Second St., according to restaurant owner Dan Beelow. The steakhouse could open by the end of January or beginning of…
New steakhouse coming to Highland Park
Downtown Highland Park is landing a steakhouse to fill the void left when Rosebud closed a few years ago, its proprietor told Crain’s today. Dan Beelow, owner of Beelow’s Steakhouse in Lake Zurich, said he has signed a lease at Renaissance Place in the northern suburb and plans to open the 160-seat Beelow’s North Shore Steakhouse…
L3 Capital pays $5.5 million for Lincoln Square properties
A venture of Chicago-based L3 Capital LLC paid $5.5 million for commercial properties at 4740 N. Lincoln Ave. and 4722-28 N. Lincoln Ave. in Chicago’s Lincoln Square neighborhood, according to Cook County property records. Nathan Tonnies, a principal at Highland Park-based Metro Commercial Real Estate Inc., brokered the deal for L3 and is handling retail…
Lincolnshire Shopping Center Deal Financed with $31.5 Million Loan
A venture that includes Northbrook real estate firm Next Realty LLC borrowed $31.5 million from an affiliate of Chicago-based Ares Commercial Real Estate Corp. to finance its acquisition of Lincolnshire Commons, a nearly 130,000-square-foot shopping center in Lincolnshire, according to Lake County records. Next hired Steve Baer, principal at Highland Park-based Metro Commercial Real Estate…
Chicago’s First Olive Garden Opens and Reveals Garlic Schism in Governor’s Race
It’s all about garlic and new menu items at the ribbon cutting ceremony today. “It’s the American Dream.” That’s what Illinois Gov. Pat Quinn told a small crowd gathered Monday morning outside the ribbon-cutting ceremony at Chicago’s first Olive Garden. Chicago Eater // View the Full Article