DLC repositioned the property through major anchor conversions, new-to-center retailers, and the creation of a local dining destination
ELMSFORD, N.Y. — DLC, one of the country’s leading owners and operators of open-air shopping centers, announced today the sale of the iconic Randhurst Village in Mount Prospect, IL.
DLC acquired Randhurst Village in 2016 and executed a comprehensive leasing and redevelopment strategy that reimagined the property and strengthened its market-dominant position. The center is anchored by Costco, Jewel-Osco, and The Home Depot, along with a leading mix of national retailers including TJ Maxx, HomeGoods, AMC Theaters, Planet Fitness, Old Navy, Michaels, DSW, and PetSmart.
A cornerstone of the business plan was the redevelopment of the former 200,000-square-foot Carson Pirie Scott box. DLC transformed the space, adding HomeGoods and Macy’s, replacing a weak concept with two nationally recognized retailers.
More recently, DLC repositioned the former Bed Bath & Beyond space with Skechers, which recently opened, and Nike, coming soon. The new stores continue the reimagination of the center’s retail lineup, providing additional attractions for new and repeat customers to visit.
DLC also repositioned Randhurst Village into a local dining hotspot, adding numerous leading restaurants and expanding its appeal beyond traditional shopping.
DLC led many of the property’s development projects with architectural services and general contractor resources on the landlord side provided by its affiliates NWS Architects and Renovo Construction. This integrated approach moved projects from concept through construction faster and more cost-effectively, exceeding the requirements of incoming retailers.
“When we acquired Randhurst Village, we saw an opportunity to create significantly more value through active ownership,” said Adam Ifshin, Founder and CEO of DLC. “Our team tackled major vacancies, redeveloped obsolete spaces, brought new retailers and restaurants to the property, and continued investing in its long-term success. This sale represents the completion of that business plan and demonstrates what is possible when strong real estate is paired with an owner-operator mindset.”
“The story of Randhurst Village is a story of execution,” said Chris Ressa, Executive Vice President and Chief Operating Officer of DLC. “We replaced two major department store vacancies, strengthened the tenant mix, and reestablished the property as a prime destination for both shopping and dining. Our leasing, development, construction, and architectural teams worked together to solve challenges and keep the center moving forward.”
DLC was represented in the sale by Newmark Retail Capital Markets team of Conor Lalor, President, Head of Retail Capital Markets, Keely Polczynski, Senior Managing Director, and Brian Schneiderman, Associate Director.
About DLC
DLC is one of the country’s leading owners and operators of open-air shopping centers, with more than $4 billion and 24 million square feet in assets under management across 90+ properties. Headquartered in Elmsford, NY, DLC leverages an owner-operator model and a fully integrated platform — including construction and design through Renovo Construction and NWS Architects — to deliver superior performance and value. Leasing, development, construction, design, and property operations to move projects forward with greater speed and accountability.
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