Jeffrey S. Edison Of Phillips Edison & Company Acquires Rice Lake Square For $52.8M
225 Rice Lake Square
$52,800,000
$215/SF
Building Size
244,924 SF
Asset Type
Retail
Closing
Oct 22, 2026
About this deal
AI
The transaction involved a grocery-anchored shopping center located at 225 Rice Lake Square in Wheaton, Illinois. The property encompasses a total area of 244,924 square feet and was sold for $52,800,000, which equates to a price per square foot of $216.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $52,800,000
- Address: 225 Rice Lake Square
- Market: Wheaton, IL
- Square Footage: 244,924
- Price per Square Foot: $216
- Buyer: Jeffrey S. Edison - Phillips Edison & Company
- Seller: Adam Firsel - Core Acquisitions
- Brokers: Rick Drogosz, Joe Girardi & Patrick Corrigan - Mid-America Real Estate Group
Mid-America Real Estate Group facilitated the transaction by representing the seller, Core Acquisitions, in the sale to Phillips Edison Co. The brokers involved in this transaction include Rick Drogosz, Joe Girardi, and Patrick Corrigan, who played a critical role in negotiating the deal.
On the Map
$52,800,000
$215/SF
Retail
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Players
Wheaton Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93