Deerbrook Shopping Center

Highlights:

• Dominant Grocery Anchor
• Desirable Rent Roll
• Unparalleled Demographics

Description:

Mid-America Real Estate Corporation has been retained by the owner to sell the 100% fee simple interest in Deerbrook Shopping Center, a Jewel-Osco anchored shopping center in Deerfield, an affluent North Shore community with an unbeatable demographic profile. The center presents investors with the opportunity to purchase a high performing grocery anchored asset with an outstanding national tenancy and immediate value add and redevelopment opportunities.

Approach #1: Redevelopment of Entire Shopping Center - An investor can redevelop one of the most prominent shopping centers on Chicago’s North Shore. Following the natural expiration of The Dump (9/30/2025) and Hobby Lobby (9/30/2025), an investor can redevelop and release the spaces to accommodate one or more tenants that could include wholesale, furniture, entertainment, health & wellness, among other uses. The offering also includes the opportunity to ground lease the 2.5-acre vacant land fronting Waukegan Road and construct a new 25,000 SF anchor box adjacent to Office Depot.

Approach #2: Sell The Dump and Hobby Lobby Boxes to Owner-User and Reimagine and Enhance In-Line Portion of Shopping Center - Given a replacement cost of approximately $150 PSF to construct the 187,045 box spaces and underground parking structure, an investor can sell the entire parcel to an owner-user or developer. An investor can then add value through the lease up of the existing shop vacancies, ground lease of the 2.5-acre vacant land, and construction of 25,000 SF of new retail space adjacent to Office Depot. 0040

Documents: