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