Pacific Retail Capital Partners has broken ground on its newest project in the Chicagoland area, the redevelopment of the 1.5 million square feet Yorktown Center mall in Lombard, Illinois.
The real estate development firm and Synergy Construction, a Chicago-based development and construction firm are in the process of demolishing the former Carson’s anchor box, which will serve as the centrepiece for a new “dynamic, integrated lifestyle hub” being developed on the 12-acre parcel. The plan was first announced in the fall of 2022.
The redeveloped site will feature over an acre of green space/community park known as The Square that is surrounded by approximately 600 residential units and thousands of square feet of new exterior-facing shops and restaurants. The Square will connect the new development at Yorktown with the centre itself, creating a link between retail and residential units.
The upcoming mixed-used destination has attracted several high-profile retailers who have already opened or will do so in the coming months, including specialty grocer The Fresh Market, Tapville Social, Empire Burgers + Brew, Dave & Buster’s, Ancho & Agave and more.
“We are pleased to have broken ground at Yorktown which will ultimately result in multiple multifamily buildings and The Square and are deeply appreciative of the support The Village has provided us throughout this process,” said Jonathan Rood, Executive VP of Development at PRCP. “Our expertise lies in reimagining our properties as essential, vibrant hubs that serve their communities for decades to come and redevelopment is core to this vision. Our approach uniquely maximises the inherent value of our real estate, creating lasting impact for both communities and investors. We believe Yorktown will serve as a model for other mixed-use projects around the country.”
