Hines Global Income Trust is cutting a hefty check for one of Wicker Park’s busiest retail crossroads, agreeing to buy Wicker Park Commons for about $70 million. The grocery‑anchored center sits at the six‑corner intersection of Ashland, Milwaukee and Division, and the deal, reported May 15, 2026, brings another deep‑pocketed institutional owner into a stretch of the neighborhood that rarely goes quiet. Residents and shopkeepers will be watching to see whether Hines keeps the long‑time anchors in place or tries to reposition the site for something new.
What Hines Is Buying
The Wicker Park Commons complex covers multiple parcels and storefronts clustered around 1238–1360 N. Ashland Ave. and 1341 N. Paulina St. Brokers pitch it as the dominant retail hub on the West Side serving Wicker Park, Bucktown and surrounding neighborhoods. The property sits a short walk from the Division Blue Line station and offers extensive surface parking, features that brokers say help drive consistent foot traffic, according to LoopNet.
Owner History
Deutsche Asset & Wealth Management bought Wicker Park Commons in 2015, and the center later moved under the umbrella of DWS Group, according to CoStar. In other words, this corner has been in institutional hands for more than a decade.
Center Details And Tenants
Marketing materials list big‑box anchors Lowe’s at roughly 67,000 square feet and Jewel‑Osco at about 52,424 square feet, with total gross‑leasable area coming in near 183,337 square feet. The brochure also highlights a longer tenant lineup — including Ulta, MyEyeDr, Potbelly and a mix of national and local service users — that collectively position the plaza as a daily‑needs stop rather than a special‑occasion destination, per the property’s listing brochure on LoopNet.
Deal Details
Hines Global Income Trust agreed to pay about $70 million for the shopping center, a price that CoStar reports is well below what the seller spent more than ten years ago. CoStar also notes that the sale is part of a broader wave of U.S. dispositions by DWS Group, as the firm sheds some of its stateside holdings.
Why It Matters
Hines has been steadily building its Chicago presence in recent years, picking up retail and other commercial properties as it grows a Midwest portfolio that is increasingly hard to ignore. The company’s local track record suggests it will lean on its institutional leasing operation and property management platform as it folds Wicker Park Commons into the mix, per a Hines press release about other Chicago acquisitions on the Hines website.
Beyond the headline number, details remain thin. The closing date and any specific capital or redevelopment plan Hines may have for the center were not disclosed in initial reports. Expect more neighborhood chatter once those plans surface; we will update this story as additional information becomes available.
