Mayor Craig Johnson Of Elk Grove Village Acquires 9.7 Acre Retail Property For $4.5M

The property asset involved in the transaction is a 9.7-acre retail site located at 610-620 Meacham Road in Elk Grove Village. The buyer, Elk Grove Village, is acquiring the property for $4.5 million. The village plans to redevelop it into a skating rink, pending the amendment of a 2019 easement agreement with Home Depot.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $4,500,000
• Address: 610-620 Meacham Road
• Market: Elk Grove Village
• Acres: 9.7
• Buyer: Mayor Craig Johnson - Elk Grove Village

The transaction includes a contingent phase where the village will conduct environmental and engineering tests during a 60-day inspection period. They will also negotiate a lease termination with Staples during the finalization of the deal.