{"id":1004656319,"date":"2023-04-07T16:31:12","date_gmt":"2023-04-08T00:31:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004656319"},"modified":"2023-04-10T02:24:30","modified_gmt":"2023-04-10T10:24:30","slug":"rcg-ventures-acquires-chicago-area-retail-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-acquires-chicago-area-retail-asset\/","title":{"rendered":"RCG Ventures Acquires Chicago-Area Retail Asset"},"content":{"rendered":"
\"Bradley<\/a>

Bradley Commons. Image courtesy of Mid-America Real Estate Corp.<\/em><\/p><\/div>\n

RCG Ventures<\/strong> has acquired Bradley Commons, a 175,369-square-foot grocery-anchored retail property<\/a> in Bourbonnais, Ill. Mid-America Real Estate Corp.<\/strong> brokered the sale on behalf of sellers IRC Retail Centers<\/strong> and DRA Advisors<\/strong>.<\/p>\n

According to public records, the property traded for $23.5 million. The same source revealed that CIBC<\/strong> originated a $16.5 million acquisition loan for the buyer. The property is managed by Pine Tree<\/strong>.<\/p>\n

The shopping center is anchored by a Walmart Supercenter and a Kohl\u2019s. Dick\u2019s, Jo-Ann, Petco, Shoe Carnival, Ulta and Five Below are among the other tenants at the property.<\/p>\n

Located at 2024 Illinois 50 Highway, Bradley Commons is located along County Road E. 241 N. The property is exposed to a daily traffic of approximately 32,700 vehicles, according to RCG Ventures. Water Tower Plaza and Northfi\u00adeld Square Mall are also located within the vicinity of the property.<\/p>\n

The retail center serves a population of more than 62,000 residents within a 5-mile radius, averaging a household income of $83,674.<\/p>\n

Grocery-anchored properties resilient despite economic turmoil<\/h2>\n

Mid-America Real Estate Principals Joe Girardi and Rick Drogosz were exclusive brokers for the seller. Earlier this month, the firm brokered another grocery-anchored property<\/a> deal, the 74,182-square-foot Cliff Lake Centre, on behalf of DRA Advisors.<\/p>\n

Last year, the majority of retail investment activity took place in major cities such as New York City, Los Angeles and Chicago, as shown by Matthews<\/strong>‘ end-of-year market report<\/a>. Additionally, the report indicated that 47.3 million square feet of retail space had been completed, with more than 250 million square feet of space leased during the same period.<\/p>\n

The grocery stores, discount stores, restaurants, big-box retailers and strip center sectors are predicted to do well, according to the report. However, due to rising inflation, commercial real estate investors are revising their market strategies<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The shopping center is anchored by Walmart and Kohl\u2019s.<\/p>\n","protected":false},"author":3030,"featured_media":1004656320,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21783,13,21742,21749],"tags":[44945,33919,39516,36646,45494,38545],"class_list":["post-1004656319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-investment","category-midwest","category-latest","category-retail","tag-cibc-bank","tag-dra-advisors-llc","tag-irc-retail-centers","tag-mid-america-real-estate-corporation","tag-pine-tree-opportunity-corporation","tag-rcg-ventures-llc"],"acf":[],"yoast_head":"\nRCG Ventures Acquires Chicago-Area Retail Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"RCG Ventures has acquired Bradley Commons, a 175,369-square-foot grocery-anchored retail property in Bourbonnais, Ill.\" \/>\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\/rcg-ventures-acquires-chicago-area-retail-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RCG Ventures Acquires Chicago-Area Retail Asset\" \/>\n<meta property=\"og:description\" content=\"RCG Ventures has acquired Bradley Commons, a 175,369-square-foot grocery-anchored retail property in Bourbonnais, Ill.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-acquires-chicago-area-retail-asset\/\" \/>\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=\"2023-04-08T00:31:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-10T10:24:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Bradley-Commons.png\" \/>\n\t<meta property=\"og:image:width\" content=\"859\" \/>\n\t<meta property=\"og:image:height\" content=\"644\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\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\/rcg-ventures-acquires-chicago-area-retail-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-acquires-chicago-area-retail-asset\/\",\"name\":\"RCG Ventures Acquires Chicago-Area Retail Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-acquires-chicago-area-retail-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-acquires-chicago-area-retail-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Bradley-Commons.png\",\"datePublished\":\"2023-04-08T00:31:12+00:00\",\"dateModified\":\"2023-04-10T10:24:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1e908d9381f3929d1d57f95e4db8c529\"},\"description\":\"RCG Ventures has acquired Bradley Commons, a 175,369-square-foot grocery-anchored retail property in Bourbonnais, Ill.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-acquires-chicago-area-retail-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-acquires-chicago-area-retail-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-acquires-chicago-area-retail-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Bradley-Commons.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Bradley-Commons.png\",\"width\":859,\"height\":644,\"caption\":\"Bradley Commons. 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