Chicago Retail Investment Climbs 39% to $1.8 Billion

Investors are increasingly directing capital into grocery-anchored open-air shopping centers across the Chicago area.

Updated on Nov. 3, 2026 in Retail

Chicago Retail Investment Climbs 39% to $1.8 Billion

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Chicago-area retail investment totaled $1.8 billion over the first quarters of 2026, rising 39 percent year over year. Transactions have increased as a lack of new supply and strong foot traffic bolster the asset class.

Why it matters

Rents are growing, occupancy is high, and retailers cannot find enough space, leaving investors drawn to the stability and day-to-day consumer access that grocery-anchored centers offer. New retail space in the development pipeline equals just 0.3 percent of the market's total supply.

Chicago-area retail investment reached $1.8 billion, rising 39 percent year over year, while physical retail sales grew less than 5 percent in 2025. Two open-air center purchases each exceeded $120 million, and the Oakbrook Center was locked in for an $800 million commercial mortgage-backed securities refinance.

The players

DLC

DLC is the seller of Randhurst Village, a Chicago-area open-air center that sold for $95 million in September.

Namdar Realty Group

Namdar Realty Group owns Ford City Mall, a Chicago-area center that has faced ongoing safety problems and missed remediation deadlines.

The details

DLC sold Randhurst Village for $95 million in September, and the sale of Deer Park Town Center was the largest retail sale in a decade in Chicagoland. Meanwhile, Namdar Realty Group's Ford City Mall has been plagued by safety issues and has missed deadlines to alleviate hazards.

September: DLC sells Randhurst Village for $95 million.
First quarters of 2026: Chicago-area retail investment reaches $1.8 billion.

Market Landscape

Chicago-area retail investment rose 39 percent year over year in the first quarters of 2026, extending a shift toward grocery-anchored open-air centers that investors see as more stable than other retail formats. The pattern reflects a market where new development equals only 0.3 percent of total supply.

Shoppers in the Chicago area may see grocery-anchored open-air centers remain the dominant retail formats as investors concentrate capital there. Limited new retail supply suggests store space will stay tight for retailers, which can affect where and how stores open.

The takeaway

Investors are prioritizing grocery-anchored centers because they offer stable, everyday consumer demand in a market with little new supply. Watching occupancy and rent trends at these centers can reveal how durable the current investment surge is.