Nation’s second oldest shopping center is sold
Can the shopping center of the 20th Century survive? In Wilmette, Ill., this week, the answer to that questions is a resounding, “Yes.”
Plaza del Lago, a Spanish-architecture landmark of that North Shore Chicago community for 80 years, has been sold to an unnamed, publicly traded REIT after a short time on the market. Owner Joseph Moss, who bought the center in 1971, died last year and his heirs decided to divest it.
Mid-America Real Estate Corp. handled the sale on behalf of the family, which claims the property to be the second-oldest continuously operating shopping center in the nation.
The center, which combines necessity-based tenants like Plaz del Lago Cleaners with upscale shops such as Chantilly Lace, was called Spanish Court when it opened in 1928 on a 22-acre piece of unincorporated land surrounded by Wilmette, Kenilworth, Evanston, and Winnetka.
Plaza del Lago is now anchored by Jewel Osco and includes CVS, NorthShore University HealthSystem, and Starbucks.
Connect with me on LinkedIn | Follow me on Twitter
Plaza del Lago, a Spanish-architecture landmark of that North Shore Chicago community for 80 years, has been sold to an unnamed, publicly traded REIT after a short time on the market. Owner Joseph Moss, who bought the center in 1971, died last year and his heirs decided to divest it.
Mid-America Real Estate Corp. handled the sale on behalf of the family, which claims the property to be the second-oldest continuously operating shopping center in the nation.
The center, which combines necessity-based tenants like Plaz del Lago Cleaners with upscale shops such as Chantilly Lace, was called Spanish Court when it opened in 1928 on a 22-acre piece of unincorporated land surrounded by Wilmette, Kenilworth, Evanston, and Winnetka.
Plaza del Lago is now anchored by Jewel Osco and includes CVS, NorthShore University HealthSystem, and Starbucks.
Connect with me on LinkedIn | Follow me on Twitter