North Riverside Plaza, a 384,707-square-foot shopping center at the southwest corner of Harlem Avenue and Cermak Road has been purchased by the New York City-based real estate investment trust Brixmor Property Group.
The sale, the terms of which were not disclosed, was announced April 21 by Mid-America Real Estate Corporation, which had been retained last fall by the shopping center’s longtime owner, Federal Construction Inc., which is headquartered in Montreal.
Cook County Clerk property records indicate the North Riverside property sold for $17,142,000. The Landmark first reported on the impending sale of the North Riverside Plaza in March.
The North Riverside property, anchored by a Kohl’s department store, Best Buy and a soon-to-open Amazon Fresh grocery store, also includes Petco, Burlington, Sketchers Warehouse Outlet and Michael’s as well as Chik-Fil-A, Chili’s, Panda Express, YiaYia’s and other retail stores.
According to Mid-America, the North Riverside Plaza was sold as a package with the Elmhurst Crossing shopping center, which is located at Route 83 and St. Charles Road, and was also owned by Federal Construction Inc. The Elmhurst shopping center also has Kohl’s and Petco as anchors as well as a Whole Foods grocery store, At Home, Portillo’s and others.
In all, Brixmor’s purchase comprises 732,000-square-foot – nearly 17 acres — of Chicago suburban commercial property. The real estate investment trust owns a little less than 400 retail shopping centers across the United States.
Its other holdings in the Chicago area include the Annex of Arlington in Arlington Heights, Butterfield Square in Libertyville, Commons of Chicago Ridge, Heritage Square in Naperville, Long Meadow Commons in Mundelein, Ridge Plaza in Arlington Heights, River Crest Shopping Center in Crestwood, Rollins Crossing in Round Lake Beach, Southfield Plaza in Bridgeview, The Commons of Crystal Lake, The Quentin Collection in Kildeer, Tinley Park Plaza and Westridge Court in Naperville.
This story has been updated to include the sale price of the North Riverside Plaza shopping center.
