Premier Target-anchored shopping center trades hands in Chicago

CHICAGO, Oct. 15, 2025 – JLL Capital Markets announced today that it has secured the sale of Hillside Town Center, a regionally dominant 160,330-square-foot open-air retail center located in Hillside, Illinois within the Chicago MSA.

JLL represented the seller, Hutensky Capital Partners. The buyer was Edgemark.

Hillside Town Center is strategically positioned at 30 South Mannheim Rd at the intersection of I-290 and Mannheim Rd, providing exceptional visibility to over 212,400 vehicles per day along the interstate and 33,800 vehicles per day on Mannheim Rd. The property is located just 0.10 miles from a full two-way interchange and 12.5 miles from downtown Chicago.

The center is 99% occupied across six buildings and features a diverse tenant mix anchored by a shadow Target store that draws 1.6 million visitors annually and ranks in the top 35% of Target locations nationally. Major tenants include HomeGoods, Ross Dress for Less, Michaels, Petco and Planet Fitness, with national tenants accounting for 87% of total income.

The property demonstrates exceptional leasing momentum with nine recent deals totaling over 110,000 square feet, including a brand new 10-year lease with Planet Fitness and eight renewals. The weighted average lease term is seven years with no single tenant representing more than 15% of revenue.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Director Michael Nieder and Director Brian Page.

"Hillside Town Center represented an exceptional opportunity to acquire a cash-flowing retail asset with strong fundamentals in the Chicago market," said Nieder. "The property's outstanding visibility, diverse income stream and recent leasing success made it an attractive investment for Edgemark."

"The asset benefits from ideal income diversification with 32% of the income from single and multi-tenant outlot buildings," added Page. "With six separate tax parcels, the property also offers unique exit flexibility for future value creation strategies."

The property serves a trade area with nearly 400,000 people within a five-mile radius and benefits from Cook County's retail vacancy rate of 4.3%, the lowest in the past 10 years.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Hutensky Capital Partners is a real estate operator that actively invests in underperforming retail real estate through loan and property purchases and joint venture investments. The company combines an experienced investment team with hands-on operating expertise through its affiliate The Hutensky Group, which since 1979 has been involved in more than 200 shopping centers nationwide and maintains a proven track record of adding value.

Edgemark, based in Denver, Colorado, is a commercial real estate development and investment company with more than 50 years of combined experience and a strong presence throughout the Midwest, Rocky Mountain and Western U.S. Throughout its 24-year history, the company has built a real estate platform acquiring, developing and operating $2 billion in assets with over 5.2 million square feet across 22 states. Edgemark's diversified portfolio includes retail, self-storage, multifamily, senior living and office assets.