SOLD
Hines Sells Oak Brook Retail Building For $9.1M With Buyer's Rep Nicholas Kanich & Seller's Rep Laura Hines-Pierce
1204 22nd Street
Retail
12,000 SF
12,000 SF
Sold 144 days ago
Summary
Sale
ILLINOIS
Retail
12,000 sqft
Hines has sold a Chicago-area retail building near Oakbrook Center, located at 1204 22nd Street, to an unidentified investor for $9.1 million. The property, totaling 12,000 square feet, is situated in the Oak Brook market. With a price per square foot of $758, the sale was executed at a price below the initial asking amount of $10.4 million.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $9,100,000
- Address: 1204 22nd Street
- Market: Oak Brook
- Square Footage: 12,000
- Price per Square Foot: $758
The seller, Laura Hines-Pierce of Hines, facilitated the transaction. Representing the seller was Nicholas Kanich of Marcus & Millichap. While the buyer remains unidentified, it is worth mentioning that Fogo de Chão, a restaurant chain, currently occupies the retail building. Fogo de Chão has signed a 20-year lease and has plans to expand with a new location in Schaumburg.
Players
All
2
Agents
1
Agencies
1
Details
SOLD
IMAGE: Nicholas Kanich & Laura Hines-Pierce
DATE: 12/21/2023
ADDRESS: 1204 22nd Street
MARKET: Oak Brook
ASSET TYPE: Retail
SELLER: Hines (@Hines) - Laura Hines-Pierce (@TXHines57)
BROKER: Nicholas Kanich - Marcus & Millichap (@MarcusMillichapinc)
SALE PRICE: $9,100,000
SF: 12,000 ~ PPSF: $758
NOTE: Hines has sold a Chicago-area retail building near Oakbrook Center, housing Fogo de Chão, to an unidentified investor for $9.1 million, below the initial $10.4 million asking price. With a 20-year lease, Fogo de Chão plans to expand with a new location in Schaumburg.View on map
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Address1204 22nd Street
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