Mid-America Arranges for the Sale of Shops at State Place in South Loop
September 25, 2023
Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Shops at State Place, an urban shopping center situated in a trophy location within Chicago’s densely populated and growing South Loop neighborhood. The 61,639-square-foot center was sold to a private buyer.
Shops at State Place is anchored by Walgreens and Fitness Formula Clubs, as well as a curated mix of local, regional, and national small shops including Kriser’s, H&R Block, Fruve Café, European Wax Center and Impact Physical Therapy. The center has become a popular amenity for the surrounding community due to its heavily oriented health and wellness tenant line-up.
Mid-America Real Estate Corporation Principals Joe Girardi and Rick Drogosz were the exclusive brokers in the transaction on behalf of IRC Retail Centers/DRA Advisors. The property was managed by Pine Tree.
Mid-America Real Estate is #1 in retail real estate services in the Midwest, with full-service offices in Illinois, Michigan, Minnesota and Wisconsin. Our exclusive focus on retail property, combined with cutting-edge technology and unsurpassed service, distinguishes Mid-America within the industry and provides clients with a competitive edge. The company manages and leases 60 million square feet of retail space and represents over 270 retailers. Mid-America’s Investment Sales Group represents clients in the sale of retail properties throughout the greater Midwest region. The Investment Sales Group’s strategic approach combines outstanding national exposure with the best local knowledge, resulting in the successful disposition of over $14 billion to date. For more information, visit www.midamericagrp.com.
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