Red Mountain Group Successfully Sells 548k SF Algonquin Commons Retail Center

Red Mountain Group Completes Sale of Algonquin Commons Shopping Center

On October 6, 2025, Red Mountain Group, Inc., a prominent name in retail real estate redevelopment, confirmed the sale of the Algonquin Commons shopping center, a sprawling 548,000 square foot retail hub located in Algonquin, Illinois. This landmark transaction was valued at an impressive $100 million and was facilitated by the reputable Nuveen Real Estate. Red Mountain Group was represented in the deal by a robust team from Newmark, including notable professionals such as Bill Bauman and Keely Polczynski.

A Retail Jewel in Suburban Chicago

Situated along Randall Road, a key retail artery in the Chicago suburbs, Algonquin Commons has cemented its status as a premier shopping destination. The center boasts a diverse range of tenants, including popular names like Trader Joe's and The Fresh Market, which recently expanded its offerings in 2025. Other notable retailers featured in the lineup are Nordstrom Rack, Bob's Furniture, Ulta Beauty, Old Navy, Dick's Sporting Goods, and Barnes & Noble. The shopping center caters not only to shoppers from Algonquin but also the surrounding areas, drawing a customer base of nearly 400,000 residents, with household incomes averaging over $125,000.

Strategic Enhancements and Community Focus

Since acquiring Algonquin Commons, Red Mountain Group has pursued a comprehensive strategy to revitalize the shopping center. Their focus on repositioning and stabilizing the property has been particularly successful. Under their stewardship, occupancy rates surged from just 60% to over 90%, highlighting the effectiveness of their leasing strategies.

Key improvements included bringing in a second grocery anchor, The Fresh Market, and enhancing the southern section of the shopping center with retailers such as Kids Empire, Popshelf, Five Below, and MiniSo. The strategic downsizing and relocation of DSW also contributed to a more engaging shopping experience.

Furthermore, Red Mountain transformed previously underutilized anchor spaces into a health and beauty hub featuring esteemed brands like Aveda and European Wax Center. Dining and entertainment options expanded with the opening of establishments such as X Golf and Twin Peaks Restaurant, diversifying the shopping experience for visitors.

A Testament to Excellence

Michael H. Mugel, CEO of Red Mountain Group, stated, "The sale of Algonquin Commons reflects the successful transformation of this 70+ acre shopping center into a dynamic, fun, and entertaining retail destination. Thanks to creative deal-making and our team's relentless efforts, we managed to attract a robust mix of tenants, enhancing the communal shopping experience and positioning the property for enduring success in Algonquin."

The center’s revitalization did not go unnoticed; earlier this year, it earned the "Project of the Year" award from the Village of Algonquin Economic Development Commission, cementing the positive impact Red Mountain Group's efforts have had on the local economy and community.

About Red Mountain Group

Red Mountain Group is a privately held retail redevelopment company that boasts a significant commercial real estate portfolio, encompassing over 7 million square feet across more than 120 shopping centers, valued at over $1.5 billion. Founded in 1999 by Michael H. Mugel, the company has become a trusted name in transforming neglected retail spaces into thriving community hubs. With its headquarters in Santa Ana, California, and an additional office in Phoenix, Arizona, Red Mountain Group remains dedicated to creating innovative retail environments that benefit both communities and investors.

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Concluding Thoughts

With the successful sale of Algonquin Commons, Red Mountain Group demonstrates its commitment not only to driving value for investors but also to revitalizing neighborhoods and enhancing community interactions. The future looks promising for the center, now under the stewardship of Nuveen Real Estate, as it continues to thrive as a cornerstone in the retail landscape of Algonquin, Illinois.