Partnership Between Affiliates Of Fortress Investment Group LLC And Lormax Stern Sells Evergreen Park Property For $67.2M

Evergreen Plaza, located at 9500 S Western Ave in Evergreen Park, is a recently redeveloped retail center consisting of 255,249 square feet. The property was sold for $67.2 million, marking a significant transaction in the Evergreen Park market. It is primarily anchored by Whole Foods Market and includes other retailers such as TJ Maxx, Burlington, Five Below, Ulta Beauty, DSW, and Planet Fitness. The center is currently 94 percent leased.

Summary of transaction details:

• Property Type: Retail Center
• Transaction Amount: $67,200,000.00
• Address: 9500 S Western Ave, Evergreen Park
• Market: Evergreen Park
• Seller: Partnership Between Affiliates of Fortress Investment Group LLC and Lormax Stern
• Seller's Representative: Amy Sands - JLL, Clinton Mitchell - JLL
• Buyer: LBX Investments
• Borrower’s Representative: Christopher Knight - JLL
• Loan Amount: $45.4 million

Amy Sands, Clinton Mitchell, and Michael Nieder from JLL represented the seller, while Christopher Knight and Gregg Shapiro of JLL facilitated a 10-year, fixed-rate acquisition loan through Angel Oak Commercial Lending. This transaction represents the largest single-asset retail sales transaction in the Chicago area for the year, according to the brokerage firm JLL.