Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Salem Square, a 100% leased shopping center in the city of Countryside, a suburban community within Lyons Township, IL, approximately 14 miles from downtown Chicago. The 116,992-square-foot property was sold to a private real estate investment firm for an undisclosed sum.
Salem Square is fully leased to a stable tenant line-up including service, dining, and retail uses including TJ Maxx/Homegoods, Marshalls, ATI Physical Therapy, Famous Footwear, Mangia Mangia, Great Clips, Card Frenzy, and Magic Nails. The in-place tenant mix provides a desirable co-tenancy for future retailers. Within a three-mile radius of the center, the average household income is more than $161,000 annually and there are 82,000 residents.
Principals Rick Drogosz and Joe Girardi of Mid-America Real Estate Corporation were the exclusive brokers in the transaction on behalf of IRC Retail Centers/DRA Advisors.
