Mid-America Real Estate Corporation brokers sale of 70,144-square-foot retail property in Park Ridge

Mid-America Real Estate Corporation brokers sale of 70,144-square-foot retail property in Park Ridge

Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of The Shops of Uptown, a 70,144-square-foot grocery-anchored retail property located at the premier “Main & Main” intersection in Park Ridge, Illinois, one of Chicago’s most affluent and sought-after suburban communities. The Shops of Uptown is part of the award-winning Uptown mixed-use development, which combines retail, residential, and public gathering spaces to create a vibrant destination and built-in customer base. The development’s strong placemaking attributes and central location have made it a cornerstone of the Park Ridge community. Anchoring the property is Trader Joe’s, one of the most popular grocery retailers in the United States and the only Trader Joe’s location within a five-mile radius of the center. The property benefits from Park Ridge’s highly desirable demographics, proximity to downtown Chicago, strong housing market, and top-rated schools. Within a two-mile radius of the property, more than 68,500 residents have an average household income of approximately $170,900, while median home values exceed $463,300, underscoring the area’s strong consumer spending power. Mid-America Real Estate Corporation Principal Joe Girardi and Senior Associate Patrick Corrigan served as the exclusive listing brokers on behalf of the seller, Phillips Edison Company (PECO). The property was acquired by an institutional investment manager.