Alfredo Linares Acquires Rivertree Court In Vernon Hills Retail Sale For $48M

A Chicago-based Mexican immigrant entrepreneur, Alfredo Linares, known for the Food Market La Chiquita chain, has purchased the Rivertree Court strip mall in Vernon Hills. The strip mall, located at 701 North Milwaukee Avenue, was acquired for $48 million. The property is a retail asset with a total area of 259,000 square feet. The sale price translates to a price per square foot of $185. The strip mall is home to big-box tenants such as Best Buy and TJ Maxx.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $48,000,000
• Address: 701 North Milwaukee Avenue
• Market: Vernon Hills

The seller of the Rivertree Court strip mall is David Luski, who represents DRA Advisors. The sale was partially financed by a $29.5 million mortgage from The Northern Trust Company. This transaction marks a shift in Alfredo Linares' business model towards acquiring larger properties. It also coincides with DRA Advisors' sale of its Midwest retail portfolio.