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$35M Takes Deerfield Village Centre

DEERFIELD, IL-Rreef buys the 124,423-sf retail, office and multifamily rental property Deerfield and Waukegan roads on behalf of an institutional client. Northern Realty and Mesirow Stein are the developers of Deerfield Village Centre.

By Mark Ruda | Updated on May 03, 2006

DEERFIELD, IL-Mesirow Stein and Northern Realty have sold their Deerfield Village Centre mixed-use property at Deerfield and Waukegan roads for nearly $35 million. Rreef bought the 124,423-sf property with retail and office space as well as multifamily rental units on behalf of an institutional client.

Orvis, Red Star Tavern, Blockbuster, Chipotle, Pearle Vision, Baker Furniture, Leather Creations and Starbucks are among the tenants in the 44,083 sf of ground-floor retail space. The property includes another 20,216 sf of fully-leased office space, occupied by PrimeSource Healthcare, as well as 56 apartments. One- and two-bedroom rental units range from 760 sf to 1,050 sf, and rent for $1,500 to $2,000 a month.

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