Kimco Realty Corp Purchases Property At 17W734 22nd St Villa Park For $21M

The property asset involved in the transaction is a retail property known as 22nd Street Plaza, located at 17W734 22nd Street in Oakbrook Terrace, Illinois. It encompasses a total area of 176,164 square feet and was sold for $21,000,000. The property is fully leased, hosting retailers including Home Depot, Party City, and Big Lots, along with restaurants such as Twin Peaks and Naf Naf Grill. It offers 850 parking spaces for its clientele.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $21,000,000
• Square Footage: 176,164
• Address: 17W734 22nd St, Villa Park, IL, 60181
• Market: Oakbrook Terrace
• Seller: Unknown
• Buyer: Kimco Realty Corp
• Seller's Representatives: Christian (Chris) Williams (CBRE), George Good (CBRE)

The deal involved Christian (Chris) Williams and George Good from CBRE representing the seller in this transaction. The buyer, Kimco Realty Corp, is a prominent real estate investment trust with a significant portfolio in the retail sector. Notably, the property is well-positioned in a high-traffic area, which is expected to sustain interest from national retailers seeking prime retail opportunities.