Second Horizon Capital Announces Continued Expansion with Acquisition of Chicago Ridge Mall
CHICAGO RIDGE, Ill., March 1, 2024 – Second Horizon Capital announced the successful closing of its acquisition of Chicago Ridge Mall, a 592,000 square-foot retail center located in Chicago Ridge, Illinois anchored by Dick’s Sporting Goods, Kohl’s, Michael’s, Aldi and AMC. Through its acquisition, Second Horizon Capital will provide significant incremental investment to sustain Chicago Ridge Mall as an economic driver while further strengthening the property to ensure it remains a lively community hub and landmark in Southwest Cook County.
“Chicago Ridge Mall is already a valued amenity for its community and the surrounding area, which presents an exciting opportunity for our company,” said Howard Levine, Co-Founder and Managing Partner of Second Horizon Capital. “We believe we can help the center maintain its strong position while also strengthening its infrastructure to support continued growth. Our objective is to enhance Chicago Ridge Mall as a go-to retail destination and inclusive economic driver for the region.”
Second Horizon Capital’s acquisition of Chicago Ridge Mall was built on Chicago Ridge’s steady and diverse demographics, consistent and robust tenant performance, and its already strong position as a community amenity. Second Horizon Capital believes Chicago Ridge Mall has potential to meaningfully enhance its community engagement and local impact for shoppers and neighbors for years to come.
“Second Horizon Capital is excited to expand our portfolio with our acquisition of Chicago Ridge Mall, a robust center with strong operations, surrounded by a vibrant community,” added Camilo Varela, Co-Founder and Managing Partner of Second Horizon Capital. “As we navigate the ownership transition, we look forward to working directly with tenants, customers, and neighboring communities. Together, we will enhance the center’s infrastructure, expand retail and entertainment offerings at the property and strengthen Chicago Ridge Mall’s position as an anchor of the community.”
Second Horizon Capital has engaged JLL for ongoing property management and leasing services at Chicago Ridge Mall. JLL is one of North America’s largest retail property management companies, with extensive experience overseeing dynamic retail centers nationwide.
About Second Horizon Capital
Second Horizon Capital is an impact investment firm that partners with communities to transform large-scale, underinvested commercial properties into vibrant destinations and local economic engines. The firm honors its role by investing in, supporting, and stewarding each community that it joins. Second Horizon Capital focuses on bringing community stakeholders, including municipalities, business owners, community groups, tenants, and end-users to the forefront in reinvigorating community hubs. By driving long-term value enhancement, seeking more equitable outcomes, and partnering with local stakeholders, Second Horizon Capital works to enhance its communities, as well as the properties themselves. Additional information on Second Horizon Capital can be found on the company's website at www.secondhorizon.com.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with an annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY℠. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
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RJ Bruce
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