A large, popular suburban Chicago mall anchored by two busy grocery and retail stores — Costco and Jewel-Osco — could soon be sold.
Randhurst Village, at 1 Randhurst Village Dr. in Mount Prospect, is expected be valued at $100 million, according to a press release from Newmark, the real estate firm retained to sell and market the property.
According to the release, the sales tag on the 94-acre site has the potential to make it one of the Chicago area’s “largest” retail transactions in recent years.
“Randhurst Village represents a rare opportunity to acquire a dominant, dual-grocery-anchored power center in one of Chicago’s most desirable suburban trade areas,” said Polczynski. “The property’s high occupancy and strong credit tenancy – including two retailers who typically own their own stores in Costco and Home Depot – make it one of the most compelling large-scale retail offerings in recent years.”
The 931,798-square-foot property was constructed in the early 2010s, the release said, and occupies a former 1960s-vintage mall that was redeveloped for $200. According to Newmark, the mall, which includes an independently-owned 140-room hotel, is the third busiest “regional center” in the state.
The mall is also currently 92% leased with tenants, including popular stores like Macy’s HomeGoods, PetSmart, Sketchers and T.J. Maxx, the release said. It also includes an AMC Theatrre, Orange Theory Fitness, Planet Fitness, Home Depot, Chipotle and a Kiddie Academy child care center.
The reason for the sale wasn’t immediately clear. Mall owners DLC Management and Rialto Capital did not immediately respond to NBC Chicago’s request for comment.
