Rogers Park’s Gateway Plaza, a 200,000 square foot property, was sold to a New York investment firm named Ashkenazy Acquisition Corporation (AAC) for an undisclosed price.

Though consistently anchored by a major grocer - formerly by Dominicks, and for the past six years by Jewel Osco, the Gateway development has often struggled to fill some of its retail spaces. Currently, the site reports being 93.4% leased.

 Now it will be owned by an experienced commercial property owner, albeit a national player.

As per AAC’s website: "Headquartered in New York City, Ashkenazy Acquisition Corporation is a private real estate investment firm focusing on retail, hotel and office assets. Ashkenazy Acquisition has acquired over 15 million square feet of real estate, located throughout the United States and Canada . With a portfolio containing more than 100 buildings valued at $12 billion, Ashkenazy Acquisition has a superior performance history in purchasing and managing premier assets.
Ashkenazy Acquisition is made of an experienced team of in-house, seasoned professionals, including acquisitions, finance, construction, leasing, development and marketing. The integrated team of real estate professionals offers exceptional expertise at all levels of the transaction and subsequent management."

Ashkenazy Acquires Jewel Osco-Anchored Center in Rogers Park

Ashkenazy Acquisition Corporation (AAC), a private real estate investment firm led by CEO and chairman Ben Ashkenazy, acquired Gateway Centre, an approximately 200,000 square-foot retail property in Chicago’s Rogers Park neighborhood. The purchase price was not disclosed.
Located at 7507 N Clark St. and on the shore of Lake Michigan, Gateway Centre is 93.4% leased, and anchored by Jewel Osco, Marshalls, and LA Fitness. The center is located just under three miles from downtown Evanston and nine miles from Chicago’s CBD.
“As a specialist in headliner transit-oriented properties, Gateway Centre fits right into AAC’s core investment strategy,” said Joe Press, COO of AAC. “The property is a high traffic infill location that is connected to the Howard CTA Station, allowing Gateway Centre to attract morning and evening commuter traffic on foot, rail, bus and cars.”