SOLD: Red Mountain Group Sells 600,000 SF Algonquin Commons Shopping Center
Santa Ana, CA — 09/18/2025 — Red Mountain Group, Inc., a leading retail real estate re-development company with 120+ shopping centers, announced today the sale of Algonquin Commons, a 600,000 SF premier power, neighborhood, and lifestyle shopping center in Algonquin, IL. The shopping center was sold for an undisclosed sum to an undisclosed buyer. Red Mountain Group was represented exclusively by Bill Bauman of Newmark Knight Frank.
Strategically located along Randall Road, one of Chicago’s most prominent suburban retail corridors, Algonquin Commons serves as a regional destination for shopping, dining, and entertainment. Anchored by Trader Joe’s, The Fresh Market (opened in 2025), Nordstrom Rack, Bob’s Furniture, Ulta Beauty, Old Navy, Dick’s Sporting Goods, and Barnes &Noble, the center draws from a trade area of nearly 400,000 residents with average household incomes exceeding $125,000.
Transformative Revitalization
Since acquiring Algonquin Commons, Red Mountain Group executed a comprehensive repositioning and merchandising plan that dramatically increased the property’s value and appeal:
· Purchased at 60% occupancy; re-tenanted to 94% occupancy.
· Added 2nd grocery anchor, The Fresh Market, opened in 2025.
· Remerchandised the southern end of the center with Kids Empire, Popshelf, Five Below, Mini So, The Good Feet, as well as downsizing and relocating DSW, creating a greater cross shopping experience for visitors.
· Redeveloped a 26,000 SF vacant anchor space in to a health and beauty hub with prominent tenants such as Aveda, Salon Lofts, Evolve, European Wax, and Coco Nails.
· Expanded entertainment and dining options with XGolf, Twin Peaks Restaurant, Chicago Ramen, Te’Amo, and more.
“The sale of Algonquin Commons reflects the successful transformation of this 70+acre shopping center into a dynamic, fun, and entertaining retail destination,” said Michael H. Mugel, CEO and Owner of Red Mountain Group. “Through extremely creative deal making strategies, relentless tenacity, and lots of hard work, our leasing team was able to attract the strongest mix of tenants, elevate the communals hopping experience, and position the property for long-term success for the Village of Algonquin. We’re absolutely confident that the center will continue to thrive and serve as a cornerstone of the community under its new ownership.”
Recognition & Community Impact
The Village of Algonquin Economic Development Commission recently honored Red Mountain Group with its “Project of the Year” Award, recognizing the company’s transformative work on this center, exemplifying innovation, revitalization, and a commitment to enhancing the local retail landscape. While one of many milestones for the center, the award underscores Red Mountain Group’s long-standing vision to deliver innovative retail environments that serve both communities and investors.
Property Address: 1900 S Randall Road, Algonquin, IL 60102
