Inland Real Estate Corp. and PGGM recently acquired the plaza for about $19.8 million.
Inland Real Estate Corp., an Oak Brook-based company, has acquired Red Top Plaza in a joint venture with PGGM, according to DailyHerald.com. On June 2, the joint venture paid about $19.8 million in an all-cash acquisition for the plaza, according to Daily Herald. The plaza features retailers such as Fifth Third Bank, Edward Jones, L.A. Tan, Subway and Jewel-Osco. Recently Jewel-Osco has been concerned that a new grocery store open across the street may affect Libertyville’s tax base. Mariano’s Fresh Market, which is scheduled to open in late June, pays its taxes to Vernon Hills. Jewel has been working with the village on a media blitz to keep shoppers and tax revenues in Libertyville.