Mid-America Real Estate Corporation Executes Sale of Salem Square in Countryside, Illinois
February 9, 2023
Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Salem Square, a 100% leased shopping center positioned at the Southeast corner of Plainfield Road and Brainard Avenue, in the city of Countryside, a suburban community within Lyons Township, approximately 14 miles from downtown Chicago. The 116,992-square-foot property was sold to a Private Real Estate Investment Firm.
Salem Square is fully leased to a stable tenant line-up including service, dining, and retail uses including TJ Maxx/Homegoods, Marshalls, ATI Physical Therapy, Famous Footwear, Mangia Mangia, Great Clips, Card Frenzy, and Magic Nails. The in-place tenant mix provides a desirable co-tenancy for future retailers. The area surrounding Salem Square features dense and affluent residential demographics. Within a three-mile radius of the center the average household income is over $161k and there are 82k residents.
Mid-America Real Estate Corporation Principal Rick Drogosz and Principal Joe Girardi were the exclusive brokers in the transaction on behalf IRC Retail Centers/DRA Advisors. The property was managed by Pine Tree.
About Mid-America Real Estate
Mid-America 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. Mid-America leases and manages more than 60 million square feet of retail space, and represents over 270 retailers and other tenants.
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 $13 billion to date. For more information, visit www.midamericagrp.com.
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