January 16, 2020 Comments Off on Private Fund Picks Up Wilmette Neighborhood Center Views: 370 Chicago News, Greater Chicagoland

Private Fund Picks Up Wilmette Neighborhood Center

JLL Capital Markets closed the sale of Westlake Plaza, a 42,018-square-foot neighborhood shopping center in the Northshore community of Wilmette, IL. It’s one of only three neighborhood centers within the market.

A team led by Amy Sands and Clinton Mitchell represented the seller, Chicago-based Newport Capital Partners. A private real estate fund advised by Crow Holdings Capital purchased the asset for an undisclosed sum.

The center is 83% leased to a variety of internet-resistant tenants, including Supercuts, Subway, Dunkin’ Donuts, Westlake Chiropractic HealthCare Center, Finest Fit Cleaners, Ivy Cleaners, Mei Lin House and Professional Eye Care. Situated on 2.5 acres at 3207 Lake Avenue, Westlake Plaza boasts a customer base of some 110,000 residents earning an average annual household income of $182,250 who live within a three-mile radius.

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