Inland Real Estate Corp. has purchased Crystal Point Center, a 339,898 sq. ft. retail center in Crystal Lake, Ill., for roughly $37.3 million.
Crystal Point Center is nearly 100% leased and is anchored by Bed Beth & Beyond, Borders Books & Music, Sports Authority, Best Buy, Office Depot and K-Mart. The mall was originally built in 1976 as an enclosed mini-mall, and was redeveloped in 1998 to capitalize on the center's key location in a retail trade area that includes such major retailers as Sam's Club, Kohl's, Target, Home Depot, Menard’s and Wal-Mart.
Crystal Point Center is located on the Route 14 corridor approximately 50 miles northwest of Chicago. The population within a three-mile radius of the center is approximately 57,500, with an average household income of approximately $82,431.
