Mid-America Real Estate Corporation’s Investment Sales Group is proud to announce the successful sale of Orland Park Place, a dominant regional center strategically located along the primary commercial corridor of LaGrange Road in the south suburban Chicago community of Orland Park. This institutional-quality asset is 93% leased with excellent sales performance and offers upside potential in one of Chicago’s top retail submarkets.  This marks the 3^rd opportunity in Mid-America’s history to execute on a successful sale of this outstanding retail destination.

The 580,477-square-foot property features a strong credit rent roll and well-curated merchandising mix, anchored by leading national and regional retailers including Nordstrom Rack, Marshalls, Ross Dress for Less, Dick’s Sporting Goods, Steinhafel’s Furniture, Ashley Home Store, Hobby Lobby, DSW, Barnes & Noble, and Planet Fitness.

Located approximately 25 miles southwest of downtown Chicago, Orland Park is an established community in the Southland region. Within a five-mile radius, the trade area serves approximately 159,000 residents with average household incomes exceeding $133,000.

The subject sale included the primary 568,577 square foot inline center and one 11,900-square-foot freestanding restaurant outparcel. The seller, PMAT Real Estate Investments, retains ownership of the five outlot buildings fronting LaGrange Road that total over 65,000 square feet and include a new-to-market Fogo de Chao and a new-to-market Daves Hot Chicken among other quality national tenants. 

Mid-America Real Estate Corporation Principals Ben Wineman, Joe Girardi, Rick Drogosz, and Investment Associate Patrick Corrigan acted as the exclusive listing brokers on behalf of the seller, PMAT Real Estate Investments, a nationally active Suburban Open-Air Retail (SOAR) investment firm based in New Orleans, LA.  The property was acquired by a private partnership led by New York, NY based Ashkenazy Acquisition Corporation.

About Mid-America Real Estate

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 total consideration value of leasing and investment sales transactions facilitated in 2024 was $2.28 billion. Mid-America leases and manages more than 50 million square feet of retail space and represents over 270 retailers and other tenants. For more information, visit www.midamericagrp.com.

About PMAT   Real Estate Investments 

PMAT Real Estate Investments is a real estate investment and development platform focused on value-add Suburban Open-Air  Retail (SOAR) investments across the Southeast, Midwest, and beyond with over 120 completed transactions consisting of over 14.3 million square feet with an aggregate value of over $1.7 BN. PMAT’s proven investment strategy is to acquire fundamentally strong, value-add Suburban Open-Air Retail (SOAR) assets anchored by grocery, discount, off-price and necessity tenants and to create long-term value through redevelopment, renovation, and re-tenanting.

Media Contact for More Information:

Olivia Palmer – Senior Marketing Director | [email protected] | 947-917-7116