In The News

Mid-America Transacts 75,000 s.f. in Leases for 6 Centers in Chicago’s Cook & Lake Counties

OAKBROOK TERRACE, Ill. – Richard Spinell, Principal of Oakbrook Terrace-based Mid-America Asset Management, Inc., announced recently signed leases at six retail centers in Chicago’s Cook and Lake Counties, totaling 75,000 square feet. Mid-America is the exclusive leasing representative for all of the centers listed.

BROADVIEW (Cook County): LA Fitness signed a lease for 50,040 square feet at Broadview Village Square in Broadview in a space vacated by Target, who relocated within the center and expanded into their Superstore format. The Irvine, California-based fitness chain anticipates opening the first half of 2010. Mr. Spinell, along with Mid-America Vice President Liz Krebs transacted the lease on behalf of the landlord, while Jeff Kuchman and Willie Hoag of Mid-America Real Estate Corp. represented the tenant. The 720,970 square-foot center is located on the northeast corner of Cermak Road and 17th Avenue, and is additionally anchored by Super Target, Home Depot, Marshalls, The Sports Authority, PetsMart, and OfficeMax.

CHICAGO (Cook County): The 134,348 square-foot Piper’s Alley, on the northwest corner of Wells Street and North Avenue in Chicago, has signed two expanded leases and one renewal. Second City, the Chicago icon that provides classes in improvisation, acting, writing and other theatrical skills, is adding 9,300 square feet to its existing space. Also expanding is Fleet Feet Sports, an athletic footwear franchise, which added 420 square feet to their existing lease of 7,835 square feet. Renewing a lease for 1,035 square feet at Piper’s Alley is GNC, a supplier of vitamins and nutritional supplements. Mid-America Senior Leasing Representative Kitsy Ritter transacted all leases directly with the tenants on behalf of the landlord. The center is additionally tenanted by XSport Fitness, Adobo Grill, and Starbucks.

Lane Plaza, a 35,849 square-foot center on West Addison Street between California and Western Avenues in Chicago, signed Taco Stop for 1,376 square feet. The privately-held Mexican restaurant plans to open in spring 2009. Mid-America Vice President Liz Krebs transacted the lease on behalf of the landlord. Lane Plaza is anchored by a US Army Recruiting Center and a City of Chicago Community Service Center.

The new 230,000 square-foot Scottsdale Shopping Center on the southeast corner of 79th Street and Cicero Avenue in Chicago recently signed Little Caesars pizza for 1,400 square feet. The restaurant is estimated to open in spring 2009. Mid-America Vice President Marget Graham represented the landlord in the lease, dealing directly with the tenant.

LIBERTYVILLE (Lake County): Red Top Plaza on Milwaukee Avenue (Route 21) and Red Top Drive in Libertyville signed Accelerated Rehabilitation Centers for 2,500 square feet. The Chicago-based practice plans to open its Libertyville center in March 2009. Mid-America Vice President Liz Krebs and Senior Leasing Representative Kitsy Ritter transacted the lease on behalf of the landlord, while Jonathan Sharp and Mike Havdala at HSA Commercial represented Accelerated Rehabilitation. Additionally, the center renewed its lease with John’s Tailor’s Touch for 800 square feet. The 151,840 square-foot Red Top Plaza is anchored by Jewel-Osco, Re/Max, Burger King, and Fifth Third Bank.

PALATINE (Cook County): Regency Plaza, a 138,323 square-foot center on Quentin Road and Euclid Avenue in Palatine, recently signed a lease for 10,540 square feet of outlot space with Anthem Grill. The independently owned sports bar and grill plans to open in June 2009. Mid-America Senior Leasing Representatives Mary Beth Menelli and Kitsy Ritter transacted the lease on behalf of the landlord, dealing directly with the tenant. Regency Plaza is anchored by Dominick’s and True Value.

Mid-America Asset Management, Inc. is a member of Mid-America Real Estate Group and a ChainLinks affiliate. The company, which is celebrating its 25th anniversary year, is the Midwest's largest third-party retail asset manager, with more than 26 million square feet of retail property for which it provides management and leasing services. For more information, call (630) 954-7300 or visit www.midamericagrp.com.

ChainLinks Media Contact:
Marie Robinson - 800.394.3701 ext. 8970