{"id":1004183310,"date":"2017-07-10T05:35:28","date_gmt":"2017-07-10T13:35:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004183310"},"modified":"2022-12-06T20:38:10","modified_gmt":"2022-12-07T04:38:10","slug":"newport-nabs-chicago-retail-portfolio-for-39m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/newport-nabs-chicago-retail-portfolio-for-39m\/","title":{"rendered":"Newport Nabs Chicago Retail Portfolio for $39M"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004183317\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Lincoln-Village-Shopping-Center-Chicago.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004183317\" data-attachment-id=\"1004183317\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/newport-nabs-chicago-retail-portfolio-for-39m\/lincoln-village-shopping-center-chicago\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Lincoln-Village-Shopping-Center-Chicago.png\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Lincoln Village Shopping Center, Chicago\" data-image-description=\"&lt;p&gt;Lincoln Village Shopping Center, Chicago&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Lincoln Village Shopping Center, Chicago&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Lincoln-Village-Shopping-Center-Chicago.png?w=800\" loading=\"lazy\" class=\"wp-image-1004183317 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Lincoln-Village-Shopping-Center-Chicago.png\" alt=\"Lincoln Village Shopping Center, Chicago\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Lincoln-Village-Shopping-Center-Chicago.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Lincoln-Village-Shopping-Center-Chicago.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Lincoln-Village-Shopping-Center-Chicago.png?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004183317\" class=\"wp-caption-text\">Lincoln Village Shopping Center, Chicago<\/p><\/div>\n<p>InvenTrust\u2019s Lincoln Village and Learsi &amp; Co.\u2019s Kedzie Plaza became part of Newport Capital Partners Fund II through a portfolio transaction, which closed at $39.2 million.<\/p>\n<p>&#8220;<em>The City of Chicago continues to be a tremendous place to live, work, do business and invest. Both of these shopping centers are convenience-, <a href=\"https:\/\/www.commercialsearch.com\/news\/chicagos-ashland-wellington-plaza-sells-for-10-m\/\">necessity-based retail properties<\/a> that have rich histories and are an important part of their respective neighborhoods,<\/em>&#8221; said Ben Andrews, a director with Newport.<\/p>\n<h2>Newport Fund\u2019s fifth and sixth Chicago assets<\/h2>\n<p>The two acquisitions, detailed below, add 214,000 square feet of retail space to the company\u2019s portfolio:<\/p>\n<ul>\n<li>Lincoln Village Shopping Center, located at Lincoln Avenue and McCormick Boulevard in Peterson Park, changed hands in a $30.5 million deal brokered by Cushman &amp; Wakefield. Built in 1950, the 164,000-square-foot retail property is one of the city\u2019s North Side iconic locations. The anchor tenants are Ross Dress for Less, Starbucks, Panera Bread, Famous Footwear and Fifth Third Bank.<\/li>\n<li>Kedzie Plaza is located at West 47<sup>th<\/sup>\u00a0Street and Kedzie Avenue in Brighton Park. The 54,000-square-foot property sold for $8.7 million, a price negotiated by Mid-America on behalf of the seller. The retail center\u2019s tenant roster includes Dollar Tree, Fallas Stores, City of Chicago EZ Pay Center and Access Community Health. The site also hosts Pete\u2019s Fresh Market Grocery.<\/li>\n<\/ul>\n<p>Cushman &amp; Wakefield\u2019s Managing Director Evan Halkias and Mid-America\u2019s Principal and Managing Broker Rick Drogosz made up the broker team.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two assets are Lincoln Village Shopping Center in Peterson Park and Kedzie Plaza in Brighton Park. Their acquisition adds 214,000 square feet of retail space to the company\u2019s portfolio. <\/p>\n","protected":false},"author":1064,"featured_media":1004183317,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,13,21742,21749],"tags":[34896,36646,36645],"class_list":["post-1004183310","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-midwest","category-latest","category-retail","tag-cushman-wakefield","tag-mid-america-real-estate-corporation","tag-newport-capital-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Newport Nabs Chicago Retail Portfolio for $39M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/newport-nabs-chicago-retail-portfolio-for-39m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newport Nabs Chicago Retail Portfolio for $39M\" \/>\n<meta property=\"og:description\" content=\"The two assets are Lincoln Village Shopping Center in Peterson Park and Kedzie Plaza in Brighton Park. Their acquisition adds 214,000 square feet of retail space to the company\u2019s portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/newport-nabs-chicago-retail-portfolio-for-39m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-10T13:35:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T04:38:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Lincoln-Village-Shopping-Center-Chicago.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gabriel Circiog\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newport-nabs-chicago-retail-portfolio-for-39m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/newport-nabs-chicago-retail-portfolio-for-39m\/\",\"name\":\"Newport Nabs Chicago Retail Portfolio for $39M - 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