Mid-America Real Estate Corporation’s Investment Sales Group has completed the brokerage of a grocery-anchored retail center at 3030 North Broadway, serving Chicago’s Lakeview and Lincoln Park neighborhoods. The transaction involved the sale of the fully built center, which is positioned as a neighborhood retail destination along a key commercial corridor on Broadway Street between Wellington and Barry Avenues.
Delivered in 2016, 3030 North Broadway is a five-story, 131,748-square-foot retail property featuring a tenant roster described as best-in-class. The center is anchored by a strong performing Mariano’s grocery store, providing a daily-needs draw for the surrounding residential communities. A new Club Studio fitness concept has also been added to the lineup, further diversifying the property’s traffic-generating uses.
In addition to its anchor tenants, the center includes a mix of national and service-oriented retailers and providers such as PNC, Starbucks, and Fresh Dental. The combination of grocery, fitness, banking, coffee, and dental services positions the property as a multi-purpose destination for nearby residents, reinforcing its role as a staple in the local retail landscape.
Mid-America Real Estate Corporation principals Ben Wineman and Joe Girardi served as the exclusive listing brokers on behalf of the seller, SITE Centers. Their Investment Sales Group was responsible for marketing the asset and arranging the sale of the property.
The buyer is L3 Capital, a Chicago-based boutique private equity real estate investment firm. Through this acquisition, L3 Capital has added a relatively new, grocery-anchored urban retail center to its portfolio, located in one of Chicago’s established North Side neighborhoods. The deal underscores ongoing investor attention to grocery-anchored assets in dense, infill locations, though specific pricing and financial terms were not disclosed in the announcement.
Mid-America Real Estate Corporation noted that it leases and manages over 50 million square feet of retail space and represents more than 270 tenants across its broader platform. While those figures speak to the scale of the firm’s retail-focused operations, the announcement centers on its role as exclusive listing broker for the sale of 3030 North Broadway.
