Sterling Organization picks up 165K sf suburban shopping center

The Florida-based company paid DDR $20M for the Hillside property, records show

Sterling CEO Brian Kosoy
Sterling CEO Brian Kosoy

Florida-based Sterling Organization paid $20 million to acquire a nearly 165,000-square-foot retail park in west suburban Hillside.

Sterling executives signed a deed Sept. 21 for Hillside Town Center, which includes a Super Target, Ross Dress for Less and HomeGoods, according to Cook County property records. Ohio-based DDR was listed as the seller.

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Sterling also bought the 101,000-square-foot Prairie Market shopping center in far west suburban Oswego, but would not disclose the sale price.

The eight Illinois properties listed in Sterling’s portfolio include the 10,000-square-foot home of Bar Toma at 110 East Pearson Street on Chicago’s Magnificent Mile and the Foot Locker building on State Street, both of which the company acquired earlier this year. Sterling’s Illinois holdings now add up to 1.9 million square feet, according to the company.

Retail vacancy rates in the Chicago area hit their highest point since 2010 this year, despite shrinking vacancies inside the city.

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