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Highlights
Blackstone sold The Streets at Woodfield shopping center in Schaumburg for $69 million to Hutensky Capital Partners, incurring a massive 59 percent loss compared to its $168.5 million purchase price in 2015.
The property's financial performance suffered, notably due to the closure of its anchor tenant, Carson Pirie Scott, whose parent company filed for bankruptcy in 2018.
The sale reflects a broader upheaval in the retail sector, with other enclosed suburban Chicago malls also facing distress and redevelopment, though smaller scale open-air centers like The Streets at Woodfield have been faring somewhat better.