Oak Mill Plaza Sold to Cincinnati Investor

NILES, IL - The Oak Mill Plaza strip mall at 7900 N. Milwaukee Avenue was sold to Phillips Edison Grocery Center REIT I, a Cincinnati-based shopping center owner.

Oak Mill is anchored by a Jewel-Osco, with other businesses such as MB Financial and Advocate Medical Group located there as well.

Phillips Edison bought the property from longtime Chicago investor Harry Major, according to Crain’s Chicago. Oak Mill becomes the company’s sixth Chicago-area shopping center.

A company spokesperson said Oak Mill “fits in with our strategy of owning grocery-anchored shopping centers that are in in-fill locations.”

More via Crain’s Chicago

photo via Google Maps