Time Equities Buys $32M Chicago Retail Center

Mid-America Real Estate Corp.'s Investment Sales team brokered the disposition of the 340,849-square-foot Shops at Fox River in McHenry, Ill.
The Shops at Fox River, McHenry, Ill.

Time Equities is continuing to expand its Midwest retail footprint. After shelling out $13.9 million on Governor’s Crossing shopping center in Sevierville, Tenn., the company has acquired the Shops at Fox River, a retail center in Chicago’s suburb of McHenry, Ill., for $32 million. Mid-America Real Estate Corp.’s Investment Sales team brokered the deal on behalf of the seller.

The property is located at 3340 Shoppers Drive, at the corner of Illinois Route 32 and Running Brook Farm Boulevard. Constructed in 2007, the 340,849-square-foot retail center is anchored by Dick’s Sporting Goods, TJ Maxx, DSW, Old Navy, Ross Dress for Less, Bed Bath & Beyond and Ulta. The asset is also shadow anchored by JC Penney.

Mid-America Real Estate Corp.’s Principal Ben Wineman and Vice President Carly Gallagher served as the brokers on the transaction.

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