March 15, 2023 – Mark Heidecke of Horvath & Tremblay has successfully completed the sale of the Village Plaza in Lombard, Illinois. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $4,350,000.
701-734 W Roosevelt Road is a 13-suite retail plaza constructed in 1976 and comprehensively renovated in 2011. The Property consists of one retail building totaling 20,000 square feet with three points of access and outstanding visibility and frontage along W Roosevelt Road (IL Route 38) which sees more than 36,600 vehicles per day. The Property is currently 91% leased to an attractive mix of tenants (Sherwin Williams, Metro PCS, Jackson Hewitt, several restaurants, and service tenants) that serve the surrounding community and draw traffic to the property. The highly visible parcel is positioned at a traffic light and is surrounded by large shopping centers and national retailers and restaurants that drive traffic to the area. The Property is just 2-miles from IL Highway 83 and Interstate 355, and 2.8-miles from Interstate 88. W Roosevelt Road is the primary commercial thoroughfare in Lombard and continues 20-miles east connecting Lombard with downtown Chicago. Numerous large-scale apartment and condominium complexes surround the property (International Village Apartments, Iron Gate & Glen Ellyn Apartments, Royal Glen Condominiums, Point West Condominiums and Collen Court Condominiums). Three high schools are less than 2-miles from the Property and the Yorktown Center Mall is just 2.2-miles from the Property.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.