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1204 22nd Street
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
clock iconSold 160 days ago
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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

Nicholas Kanich's profile picture
Nicholas Kanich
Marcus & Millichap-image
First Vice President Investments
$71.6M Sold

Details

Deal Summary
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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.

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Address1204 22nd Street

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