Regency Centers Acquires Old Town Square Shopping Center In Chicago For $27.5M

Regency Centers has acquired the Old Town Square shopping center in Chicago for approximately $27.5 million. The property spans 87,100 square feet and is located at 424 West Division Street. This retail asset sits on a 5.4-acre parcel of land in the Chicago market.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $27,500,000
• Address: 424 West Division Street, Chicago
• Market: Chicago
• Square Footage: 87,100

The buyer, Regency Centers, made the purchase through Lisa Palmer as their representative. The property was sold by Principal Life Insurance, with Dan Houston serving as their representative. The deal was facilitated by brokers Richard Frolik, George Good, and Christian Williams from CBRE.

Despite challenges in the retail sector, the Old Town Square shopping center's strong performance and long-term leases played a significant role in its successful sale. This transaction marks one of the largest retail deals in Chicago this year.