**Randhurst Village Retail Center Hits Market in One of Chicago’s Largest Potential Retail Deals**
Newmark has been exclusively retained to market and sell Randhurst Village, a 931,798-square-foot open-air retail power center located on a 94-acre site in Mount Prospect, a suburb northwest of Chicago.
Anchored by major retailers Costco and Jewel-Osco, the asset is anticipated to trade for approximately $100 million. If realized, the valuation would mark one of the largest retail transactions in the Chicago metropolitan area in recent years. Adding to its appeal, the property benefits from a sales-tax incentive program that enhances its cash flow performance.
Keely Polczynski, Senior Managing Director at Newmark Retail Capital Markets, is leading the sales effort on behalf of the current owners—a joint venture between DLC Management and Rialto Capital.
Originally constructed in the early 2010s, Randhurst Village was developed on the site of a former enclosed mall dating back to the 1960s. The transformation was part of a $200 million redevelopment that reimagined the location into a regional shopping destination. Today, it ranks as the third busiest retail center in Illinois.
In addition to the substantial retail footprint, the property also includes a 140-room hotel that is independently owned. Randhurst Village is strategically positioned at the intersection of West Rand and North Elmhurst Roads, which sees daily traffic volumes of approximately 69,000 vehicles.
