Streets Of Woodfield Shopping Center Hits Market: Report

SCHAUMBURG, IL — Just six years after buying it, Blackstone is selling Streets of Woodfield, the 693,000-square-foot shopping center in Schaumburg. The property was bought by the New York-based private-equity firm for a reported $168.15 million in 2015, but the current value is closer to $110 million, reports Crain's Chicago Business.

Featuring upscale shops and an open-air streetscape design, Streets of Woodfield opened in 1991. Current anchors include Legoland Discovery Center, GameWorks, Restoration Hardware Outlet and Dick's Sporting Goods, along with the 20-screen AMC Loews Streets of Woodfield 20 and a Whole Foods grocery store.

Blackstone, with total assets estimated at around $619 billion, has hired the Chicago office of Eastdill Secured to sell the property, reports Crain's. As consumers continue to shift away from brick-and-mortar shopping, similar shopping centers up for sale have remained on the market, but a 96 percent store occupancy might benefit the lifestyle center located at Interstate 290 and Higgins Road.

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