RCG Ventures Acquires Grand Hunt Shopping Center In Gurnee For $17M

Atlanta-based RCG Ventures has acquired the Grand Hunt Shopping Center in Gurnee for nearly $17 million. The property, located at 6517-6549 Grand Avenue, is a retail asset with a total area of 134,000 square feet. The purchase price translates to approximately $127 per square foot. The seller of the property was Principal Life Insurance, as part of their strategy to sell Chicago-area assets. Landmark Credit Union provided financing for the transaction.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $17,000,000
• Address: 6517-6549 Grand Avenue, Gurnee
• Market: Gurnee
• Buyer: RCG Ventures - Michael Klump
• Seller: Principal Life Insurance
• Lender: Landmark Credit Union
• Square Footage: 134,000
• Price per Square Foot: $127

The purchase of the Grand Hunt Shopping Center by RCG Ventures aligns with Principal Life Insurance's strategy of divesting Chicago-area assets. RCG Ventures was able to secure financing for the transaction from Landmark Credit Union. This acquisition adds to Principal's recent sales, including the Old Town Square shopping center.