Mid-America Real Estate Corporation’s Investment Sales Group has completed the sale of High Point Centre, a 240,345-square-foot community shopping center in Lombard, Illinois. The property is located along heavily trafficked Roosevelt Road in the western portion of DuPage County, within the Chicago suburbs, and is positioned in an established retail corridor serving nearby residential neighborhoods.
Principal Ben Wineman of Mid-America served as the exclusive listing broker for the transaction, representing the seller, a publicly traded real estate investment trust. The buyer is described as a private investment group, marking a change in ownership from a public REIT to private capital. The transaction underscores ongoing investor interest in suburban Chicago retail assets that offer both established tenancy and potential for future leasing gains.
High Point Centre is currently 68% leased to a mix of national and local tenants. Notable retailers and service providers at the center include LA Fitness, Altitude Trampoline Park, Ace Dental, Burger King, Mango Mango Desserts, Sport Clips, Seoul Bites Korean BBQ, Souq Market, and Tropical Smoothie Cafe. The occupancy profile, combined with the existing tenant roster, provides in-place cash flow while leaving room for additional leasing and repositioning activity.
Developed in 1992, High Point Centre consists of three strip plazas located at 401-581 E Roosevelt Road. The center benefits from its placement along a major thoroughfare, giving tenants visibility to significant daily traffic. Its location near Yorktown Center and major expressways further enhances regional accessibility and helps draw from a broad trade area.
Surrounded by dense residential neighborhoods, the property serves as a community-focused retail destination for nearby households. The mix of fitness, dining, personal services, and specialty retail contributes to a diversified tenant base, while the remaining vacancy represents the “significant value-add upside” cited in connection with the sale. The new ownership group will have an opportunity to capture that upside through lease-up and potential merchandising adjustments.
While financial terms of the transaction were not disclosed, the sale of a large-format suburban community center with meaningful vacancy highlights ongoing activity in the investment sales market for retail assets in the Chicago suburbs. Mid-America’s role as exclusive listing broker reflects continued engagement by institutional and private investors seeking risk-adjusted returns in value-add retail properties.
