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Sterling Organization fund buys grocery-anchored shopping center in Chicago
Transactions - MARCH 24, 2022

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Sterling Organization fund buys grocery-anchored shopping center in Chicago

by Released

Sterling Organization, a vertically integrated private equity real estate investment firm, has announced the acquisition of North Mayfair Commons in Chicago.

The property was purchased on behalf of Sterling Organization’s institutional grocery-anchored shopping center core fund, Sterling United Properties II (SUP II), for $18.25 million.

The 87,274-square-foot grocery-anchored shopping center, located in Chicago’s North Mayfair neighborhood, is approximately eight miles northwest of the central business district and is surrounded by some of the city’s most desirable neighborhoods.

The property is anchored by a 65,224-square-foot Jewel Osco grocery store that performs well and is accompanied by national tenants such as H&R Block and FedEx Kinko’s. The center is well-positioned in a densely populated submarket that has more than 376,000 people living within a three-mile radius and an average household income of over $107,000.

“North Mayfair Co

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