The multimillion-dollar redevelopment will make the prestigious shopping center in Chicago’s iconic North Shore one of the most attractive locations as a one-stop-shop for convenient healthcare and top retail and hospitality experiences.
SKOKIE, Ill., March 13, 2023 – JLL announced today that Westfield Old Orchard, the renowned shopping center near Chicago’s North Shore, will be adding up to 200,000-square-feet of healthcare space to their redevelopment. Medical space will be available for leasing in 2024 as part of a 300-plus residential and mixed-use redevelopment or as a free-standing build to suit. Once leased, Westfield Old Orchard’s mix of healthcare with best-in-class retail, modern residences, hospitality, entertainment, gourmet markets and upscale wellness amenities will be unrivalled across greater Chicago.
JLL Senior Managing Director Greg Gerber and Managing Director Chris Cummins will lead the exclusive leasing assignment.
A location at Westfield Old Orchard enables healthcare providers to get closer to a high potential patient customer base and access a modern, highly visible location in a state-of-the-art live, work, shop and play environment. Within 15 miles of the available space is the most desirable healthcare populations in greater Chicago with average healthcare spending well above national norms. It is also near 260,000 households with an average household income significantly above national averages and on average, 9.7 million people visit Westfield Old Orchard per year, providing increased brand exposure and access to new patient populations.
“These spaces opening for a healthcare tenant represent the next wave of healthcare delivery: bringing excellent care closer to the patient near highly desirable amenities and services in one central location,” remarked Greg Gerber, JLL Senior Managing Director. “Westfield Old Orchard is leading from the front in helping accelerate this shift in healthcare delivery. For top healthcare systems who are seeking growth and brand enhancement at a high potential location with premium amenities and retail, it will be hard to find a better opportunity. This is a signature leasing project that we are thrilled about.”
Westfield Old Orchard provides direct access to the largest employment and retail hubs of the North Shore area of suburban Chicago. The location is one minute away from the Interstate 94 ramp, the main thoroughfare to downtown Chicago from the northern suburbs. Tenants can leverage external signage opportunities with significant visibility to traffic and the public, offering additional brand enhancement value.
“With the addition of this healthcare space, Westfield Old Orchard will be further established as a top live, work, shop and play destination on the North Shore. A guest can visit any time of day to accomplish daily tasks like shopping for groceries, visiting a premiere collection of restaurants and retailers, stopping at the bank or pharmacy, and make a trip to the doctor’s office. This new space will make Westfield Old Orchard more impactful and engaging for local communities,” said Stephen Fluhr,Senior Vice President Development for Unibail-Rodamco-Westfield.
In 2022, Unibail-Rodamco-Westfield unveiled a new, landmark vision for Westfield Old Orchard that dramatically enhances its offering to further establish it as a live, work, shop, and play destination. Upon completion of the redevelopment, the center will feature best-in-class retail, market-defining dining, upscale health-and-wellness amenities, and luxury residences, all alongside open green space and outdoor lounges. Currently, there are 17 restaurants, 143 retailers, two fitness studios and 1.7 million-square-feet of retail space.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
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