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Deer Grove in Palatine, Ill., bought for $20 million


Chicago — Transwestern’s Chicago office has brokered the sale of the 236,173-sq.-ft. Deer Grove Shopping Centre in Palatine, Ill., to Ramco Gershenson for $20 million. Transwestern represented the seller, C-III Asset Management.

The property is anchored by Dominick’s, a Chicago-based grocer, and national tenants including TJ Maxx/Home Goods, Petco and Staples. A Target and Home Depot shadow anchor the property.

The property was 81% leased at the time of the sale, including the newly executed TJ Maxx/Home Goods lease. The national retail chain is expected to improve traffic at the property and increase future leasing prospects.

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