A Spanish-style open-air center reputed to be America's second oldest — Plaza Del Lago, in suburban Chicago — has sold for $48 million to Retail Properties of America, according to Crain's Chicago. Originally called Spanish Court, the project opened in 1928 on what was then an unincorporated strip of land outside Wilmette, Ill. It was the design of architect Edwin Clarke, and it offered parking — a novel innovation back then, as automobiles were just becoming ubiquitous. For the past 47 years the late Chicago real estate developer Joseph Moss owned the property, according to Crain's.
By Edmund Mander