Hines U.S. Property Partners Acquires Retail Center In Chicago For $46.5M

The retail center located at 850, 900, and 908 W. North Ave. in Chicago's Clybourn Corridor has been acquired by Jeffrey C. Hines & Laura Hines-Pierce for $46,500,000. The 68,000-square-foot property, anchored by Crate & Barrel and The Container Store, demonstrates Hines' focus on well-located assets with strong tenant commitments.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $46,500,000
• Address: 850, 900 & 908 West North Avenue, Chicago
• Market: Chicago
• Square Footage: 68,000
• Price per Square Foot: $684

Joe Girardi and Stanley Nitzberg from Mid-America Real Estate Group represented the seller, a venture previously led by Harry Seigle, in the transaction. This acquisition marks Hines U.S. Property Partner's first sale in over two decades, showcasing their strategic investment approach in the Chicago area across retail and industrial sectors.