June 28, 2022

Chicago Tribune


WS Development Purchases Plaza del Lago Shopping Center in Wilmette

WS Development is increasing its Wilmette presence with the purchase of the Plaza del Lago shopping center.

Following January’s announcement that it had acquired Wilmette’s Edens Plaza Shopping Center, WS Development, the Massachusetts-based real estate developer, announced June 16 it has now obtained the approximate 100,000 square foot Plaza del Lago outdoor shopping center.

Located in the 1500 block of Sheridan Road, Plaza del Lago opened in the 1920s. Featuring Spanish-style architecture, the shopping center is the home to a Jewel-Osco supermarket and many other retail outlets.

“We are thrilled to expand our footprint in Wilmette, Illinois with Plaza del Lago,” WS Development President Samantha David said in a statement. “It’s rare you find a place with such history and innate charm. We look forward to working with the community and the Village of Wilmette to ensure that Plaza del Lago remains an iconic community landmark for decades to come.”

Wilmette officials warmly greeted the WS announcement.

“We are thrilled that WS Properties has purchased the shopping center,” Village Manager Michael Braiman wrote in an email. “They have the proven experience with similar open air shopping centers to revitalize the plaza and ensure it remains a destination for shoppers and diners in the North Shore.”

Braiman wrote WS Development purchased Plaza del Lago from Indianapolis-based Kite Realty Group. The shopping center was acquired in Jan. 2018 by Retail Properties of America, which last year merged with Kite.

Braiman added there are not any plans for renovations at the shopping center at this time.

In its statement, WS said it now has greater than 100 mixed-use properties across the country.

Over at Edens Plaza, preparations continue toward Wayfair, the Boston-based retailer, is poised to start operations in the building once occupied by the Carson’s department store, which closed in 2018.

A WS spokeswoman anticipated a mid-2023 opening for Wayfair.

By Daniel Dorfman

See the article Here

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