Skip Ribbon Commands
Skip to main content

News release

CHICAGO, IL

Jones Lang LaSalle Expands Chicagoland Retail Portfolio

• Chicago Retail Group wins leasing and management assignment of Townline Square in Mundelein, plans redevelopment of 216,000-SF property

• Expands Chicago retail portfolio to 3.8-million-square-feet within two years


CHICAGO, January 9, 2012 — 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 six 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 all of which are designed to increase tenant occupancy and drive sales. “It wasn’t just Jones Lang LaSalle’s growing portfolio that helped us determine the best firm to manage and lease Townline, but the personal connections we felt with the team, its retail network and the entire firm, “ Wayne Streck of Thrivent Financial for Lutherans said. “Impressed by the growth and potential the Chicago team has in Chicago, we look forward to working together to reintroduce Townline Square as the premier retail destination in the area.”

From Chicago city landmarks to suburban shopping centers, the Windy City demonstrates the breadth of the Retail Group’s expertise and capabilities. In addition to Townline Square, additional management and leasing assignments include:
  • Chicago’s Navy Pier, where the team handles accounting services for 130,000-square-feet on behalf of its client, Metropolitan Pier & Exposition Authority; 
  • Yorktown Center in Lombard, where the firm leases and manages the 1.5-million-square-foot regional mall;
  • Kendall Marketplace in Yorkville, where the team leases and manages 750,000-square-foot power center for Rally Capital Services; and
  • Ford City Mall in Chicago, where the team leases and manages the 1.2-million-square-foot regional mall.
“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,” said Greg Maloney, CEO and President of Jones Lang LaSalle Retail.  

As the leading retail service provider, Jones Lang LaSalle Retail manages the largest third-party retail portfolio in the country.  The firm's 98 million-square-foot retail portfolio consists of more than 350 regional malls, strip centers, power centers, lifestyle centers, ground-up development projects, mixed-use centers, transportation terminals and over 18,000 retail ATMs and bank branches across 50 states. Globally, Jones Lang LaSalle (NYSE: JLL) has a retail portfolio of 278 million square feet of property under management and leasing, including more than 21,600 retail locations on four continents. Jones Lang LaSalle is the only global real estate services firm with a team of dedicated, full-time experts who deliver comprehensive and globally integrated services in Energy and Sustainability under one umbrella. The firm offers leading-edge, industry-unique technology, training and tools in energy and sustainability to maximize the benefits for its clients and the greater community.  For more information on Jones Lang LaSalle Retail, visit www.jllretail.com.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.9 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.