New owner plans $1 million in improvements to Town Square Wheaton

  • Town Square Wheaton, a shopping center on the south side of the city, recently was sold for nearly $57.3 million. The new owner, Tucker Development, has plans for $1 million in renovations.

    Town Square Wheaton, a shopping center on the south side of the city, recently was sold for nearly $57.3 million. The new owner, Tucker Development, has plans for $1 million in renovations. Submitted photo

 
 
Updated 5/6/2015 6:57 PM

The Town Square Wheaton shopping center has a new owner with plans to improve the property with more than $1 million in renovations.

Highland Park-based Tucker Development recently purchased the 200,000-square-foot property for nearly $57.3 million, in a joint venture with Hutensky Capital Partners, according to a news release.

                                                                                                                                                                                                                       
 

The open-air shopping, dining and office center is located on the south side of the city, near Naperville Road and Blanchard Circle.

It features 160,000 square feet of retail space, much of it filled with chain stores such as Banana Republic, Gap, Jos. A. Bank, Starbucks, Yankee Candle and Talbots. The property also includes two professional buildings that house medical offices.

Tucker Development plans to enhance the seven buildings arranged in a walkable loop primarily through signage and facade improvements.

"Town Square Wheaton is an exciting destination that has operated successfully for more than two decades," Richard Tucker, CEO of Tucker Development, said in a statement. "With the cosmetic and operational improvements we will be implementing, the already exceptional shopping experience will be significantly enhanced."

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