Peak Properties, which has been receiver of the 480,000-square-foot Arboretum of South Barrington since late 2020, said Star Cinema Grill has signed a 15-year lease for the approximately 38,000-square-foot standalone building that previously housed IPIC Theaters. IPIC closed both its Chicago-area locations during the pandemic.
The Houston based dine-in-theater concept will bring first-run films, an extensive menu and a full-service bar opening this spring as it expands its Illinois footprint of theaters. It also operates a location in Naperville.
“Our focus is on stabilizing this premier shopping center and identifying the right mix of new tenants, while retaining those that make The Arboretum of South Barrington a destination for the nearby communities,” said Peak Properties managing partner Mike Zucker.
Madeline Wheeler, VP agency leasing of JLL, represented The Arboretum of South Barrington. Kristen Barker of Wulfe & Co. represented Star Cinema Grill during negotiations for the deal.
