NewMark Merrill Receives $31.2M Loan for Recapitalization of Suburban Chicago Shopping Center
MELROSE PARK, ILL. — NewMark Merrill Cos. has received a $31.2 million loan for the recapitalization of Winston Plaza in the Chicago suburb of Melrose Park. The 410,000-square-foot shopping center is situated at the corner of North Avenue and 9th Street. The three-year, floating-rate loan includes funds for property improvements and lease-up. Bryan Gortikov of Gortikov Enterprises arranged the loan with Wells Fargo Bank. Anchor tenants at Winston Plaza include Best Buy, Ross Dress for Less, Marshalls, Dollar Tree and Five Below. Cermak Fresh Market purchased a 90,000-square-foot building at the center with plans to open a new grocery store by the end of the year.