CalSTRS buys suburban retail property

    The California State Teachers’ Retirement System, one of the largest pension funds in the nation, is thinking small in the western suburbs, where it acquired a 9,650-square-foot building that’s part of a bigger mall the fund owns.

    CalSTRS paid $3.3 million for the building, part of the Quarry Shopping Center in west suburban Hodgkins.

    Sacramento, Calif.-based CalSTRS already owned the 435,522-square foot center, which it bought in 1993. The mall, at Joliet and LaGrange roads, is anchored by Walmart, Target and Kohl’s stores.

    Read more in Crain’s Chicago Business.

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