CHICAGO—Hanover Square was the first large shopping center built in the northwest suburb of Hanover Park, and it's now undergoing a major renovation. Last week, Tobin Development and the Village of Hanover Park, the joint venture that owns the center at 6602-6772 Barrington Rd., began updating the façade, parking lot and lighting, refreshing the landscaping, addressing roof repairs and maintenance needs, and building out its vacant spaces. The partners expect to complete the work by the first quarter of 2016.
"Our goal is to elevate Hanover Square and make it an ideal place for retailers to operate their businesses and an appealing setting for consumers to visit frequently," says Thomas Godfrey of Tobin. "We are thrilled to have the opportunity to reenergize the center located along the vibrant Barrington Road retail corridor."
Originally built in the early 1960s, Hanover Square is located on 10 acres of land along the west side of Barrington Rd. between Lake St. and Irving Park Rd. Tenants currently occupy about 60% of the 113,740 square foot, two building retail center, and include Dino's Foods, Family Dollar, a mexican restaurant and taqueria, and various service providers that include daycare, Tae-Kwon-Do, barber, laundromat, chiropractor, florist and vacuum repair shop.
Most recently, Gymkhana, a youth gymnastics club and dance studio, signed a lease for 25,000 square feet of space and plans to move in and open its doors in the first quarter of 2016. The partners expect that this addition will bring in 2,000 additional families each week. Hanover Square currently has available spaces ranging in size from 970 square feet to 17,500 square feet.
NAI Hiffman will lead the leasing efforts for the rebranded asset and manage the property.
"Our management and leasing team operate as a single entity to improve and maintain tenant satisfaction while attracting new tenants to the center," says John Picchiotti, chief operating officer with NAI Hiffman's brokerage services group. "Between the prime location, forthcoming renovations, and addition of Gymkhana, Hanover Square will be a great fit for a variety of retailers, service providers and eateries."
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
