Town Square Wheaton Mall Sold for $57.3 Million

Town Square Wheaton mall was purchased for $57.3 million in a joint venture with a Highland Park-based retail developer, according to a Crain’s Chicago Business report.

Tucker Development—along with Hartford, Conn.-based real estate fund manager Hutensky Capital Partners—bought the 203,000-square-foot mall as a way for the developer to expand its retail footprint in the Chicago area, the report stated. CEO Richard Tucker told Crain’s that the mall’s strong location was a key factor, and there are plans to update it’s look with $2 million in new signage and facade improvements.

Town Square Wheaton, which had been owned since 1997 by Hinsdale investor Andrew Vaccaro, is about 85 percent leased and includes such stores as Banana Republic and Victoria’s Secret, the report stated. The new developer wants to bring in more restaurants to the mall in the future, the report added.

>>Via the Crain’s Chicago Business