Jones Lang LaSalle Expands Chicagoland Retail Portfolio

by Nate Hunter

Chicago — Jones Lang LaSalle has been the management and leasing provider for Townline Square in Mundelein, Ill. JLL will manage a redevelopment of the property.

Chicago — Jones Lang LaSalle has been named as the exclusive management and leasing provider for Townline Square, a 216,000-square-foot community center anchored by Jewel-Osco located in Mundelein, Ill., a northern suburb of Chicago. Thrivent Financial for Lutherans selected JLL for the assignment based on the firm’s national reputation in the retail business and growing presence in Chicago and its surrounding suburbs.

Under the direction of Senior Vice President Mark Hunter — who joined Jones Lang LaSalle in 2010 with the acquisition of General Growth Properties’ (GGP) third-party retail portfolio — the retail group has rapidly expanded across Chicagoland in recent years, with its retail portfolio growing to more than 6 million square feet. The team provides property management, leasing, development, market planning, site selection, project and facility management and lease administration services.

At Townline Square, Jones Lang LaSalle will manage a redevelopment of the property which includes façade renovations, new landscaping and signage upgrades.

In addition to Townline Square, additional management and leasing assignments include: Chicago’s famed Navy Pier; Yorktown Center, a 1.5 million-square-foot regional mall in Lombard; Kendall Marketplace, a 750,000-square-foot power center in Yorkville; and

Ford City Mall, a 1.2 million-square-foot regional mall in Chicago.

“Our Chicago Retail team has developed a strong reputation for providing property owners with second-to-none service that allows them to realize the full value of their assets,” says Greg Maloney, CEO and president of Jones Lang LaSalle Retail.  

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SOURCE: Jones Lang LaSalle

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