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Bond Cos. lists 2 suburban shopping centers; could fetch $100M+
Company is evaluating interest level, but move comes amid uncertainty for retail market
Bond Companies is testing the waters by putting two neighboring shopping centers in northwest suburban Kildeer on the market.
The Chicago-based developer hired CBRE to market the 199,000-square-foot Kildeer Village Square and 65,000-square-foot Kildeer Marketplace, according to Crain’s.
The larger property counts Nordstrom Rack and Art Van Furniture among its tenant roster, while the smaller one is anchored by a Whole Foods Market.
Bond co-founder and president Robert Bond told Crain’s the firm listed the properties to evaluate their market value, which according to comparable retail sales could top $100 million in total.
The most expensive retail investment sale of 2018 in Cook County was a 125,000-square-foot property in the South Loop that the Iowa Public Employee Retirement System picked up for $50.1 million.
But Bond is listing the properties at a time of uncertainty for the retail market in Chicago. The local retail vacancy rate last year hit its highest level since 2010, according to CBRE. [Crain’s] — John O’Brien