Pointe Plaza
193,000 sf Shopping Center
Niles, IL
Major Tenants: Walgreens, Starbucks, Office Depot
Developed between 1999 and 2000, Pointe Plaza is a 193,000 sf. shopping center situated on 20 acres at the intersection of Touhy & Central Ave. in Niles, IL. Anchored by Cub Foods (S&P: BBB), Walgreens (S&P: A+), and Babies “R” Us (S&P: BBB-), the center contains 21 tenants and is 100% leased. Other national tenants at Pointe Plaza include Office Depot, Blockbuster, Bennigans, Starbucks, and Bath & Body Works. The overall anchor for the center is Wal-Mart, which we did not purchase, but which creates a strong draw and customer base for the center’s tenants.
Located approximately 15 miles northwest of Downtown Chicago, Niles, IL is one of Chicago’s premier suburbs. Historically, Niles has been home to an affluent community of professionals, making it a popular destination for national retailers. In terms of demographics, the average household income in Niles is $59,879. Moreover, within a 3-mile radius surrounding Pointe Plaza, the population is 175,325 and the average household income is $73,421.
Pointe Plaza is located in one of the most desirable submarkets of the Near North Suburbs on Touhy Avenue, a major retail corridor. Directly across the street from Pointe Plaza are two major centers, which include retailers such as Best Buy, Bed Bath & Beyond, Crown Theatres, Galyan’s, Jewel, and Pier 1. Available land for the future development of competing centers is severely limited and is virtually non-existent within the immediate trade area.
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