Encore Enterprises and AmCap Acquire Liberty Square
In a joint venture with Encore Enterprises, AmCap has acquired Liberty Square in the Wauconda suburb of Chicago.
AmCap, in a joint venture with Encore Enterprises, has acquired Liberty Square, a 107,431-square-foot, grocery-anchored retail center in the Wauconda suburb of Chicago.
According to Lake County public records, the buyer paid $18.7 million for the property, financing the purchase with an $11.5 million loan from American United Life Insurance Co., due to mature in 2028. The seller was Broad Reach Retail Partners, which had acquired the asset in 2018 for $14.1 million, CommercialEdge data shows.
Completed in 1987, Liberty Square comprises seven one-story buildings across roughly 10 acres, according to the same data provider. A Jewel-Osco 54,522-square-foot supermarket anchors the property. Other tenants include the U.S. Postal Service, Charter Fitness, KFC, Subway, Pet Supplies Plus and PNC Bank.
The shopping center is located at 547 W. Liberty St., at the intersection of U.S. 12 Highway and Illinois 176 Route. Downtown Chicago is some 45 miles southeast.
Liberty Square is AmCap’s second acquisition in partnership with Encore Enterprises and its fifth Chicago-area property. The firm’s local portfolio also includes the Amazon Fresh-anchored Norridge Commons in Norridge, Ill., and the Aldi-anchored Mallard Crossing in Elk Grove Village, Ill., as well as two other Jewel-Osco-anchored retail centers in Arlington Heights, Ill. and Hoffman Estates, Ill.
Published in In the News on 19 Oct 2023 at 20:38