Out-of-State Investor Acquires Fully Occupied Retail Property In Lombard For $5.6M

The asset involved in this transaction is a retail property located at 2820 South Highland Avenue in Lombard. It encompasses a total area of 16,000 square feet and was sold for $5,600,000, which reflects a price per square foot of $350. The property was fully occupied at the time of sale and has been owned for 17 years by Lombard Highland Associates LLC. The sale occurred on August 20, following significant interest from private investors.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,600,000
• Square Footage: 16,000
• Price Per Square Foot: $350
• Address: 2820 South Highland Avenue
• Market: Lombard
• Broker Representatives: Adrian Mendoza, Sean Sharko & Austin Weisenbeck - Marcus & Millichap

The buyer of the Highlands of Lombard was an out-of-state investor who purchased the property at the full asking price. This transaction underscores the ongoing demand in the Lombard retail market, particularly due to the property's location near Yorktown Center.