Private Real Estate Fund Acquires Property At 3207 Lake Ave Wilmette With Seller's Reps Amy Sands And Clinton Mitchell

Westlake Plaza is a shopping center located at 3207 Lake Ave, Wilmette, IL, 60091. The center spans 42,018 square feet and occupies 2.5 acres. It features a mix of internet-resistant tenants and is currently 83 percent leased. The surrounding area has a dense population, with over 110,000 residents within a three-mile radius and an average annual income of approximately $182,000. The location is conveniently situated just off Skokie Boulevard and Interstate 94, about two miles from downtown Wilmette.

Summary of transaction details:

• Property Type: Shopping Center
• Transaction Amount: Not disclosed
• Address: 3207 Lake Ave, Wilmette, IL, 60091
• Market: Wilmette
• Square Footage: 42,018
• Seller: Newport Capital Partners
• Seller's Representatives: Amy Sands (JLL), Clinton Mitchell (JLL)
• Buyer: Private Real Estate Fund
• Advisors for Buyer: Crow Holdings Capital

The transaction was facilitated by JLL Capital Markets, with Managing Directors Amy Sands and Clinton Mitchell representing the seller, Newport Capital Partners. The shopping center is one of only three neighborhood centers in the market and includes a diverse range of tenants such as Supercuts, Subway, and Dunkin’ Donuts. JLL’s latest report highlights the resilience of the retail sector, indicating that while certain categories thrive, a significant portion of retailers still depend on physical storefronts.