February 23, 2023 – Mark Heidecke of Horvath & Tremblay has successfully completed the sale of a Kings Point in Villa Park, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $3,375,000.
Kings Point is a retail plaza located at 1015-1035 W North Avenue in Villa Park, Illinois. The plaza was constructed in 1987 and contains 17,330 square feet of gross leasable area on a 1.29-acre corner parcel. The Property has twelve units and is 93.8% leased to a complimentary mix of local tenants that serve the needs of the area residents. The Property has benefited from several recent capital improvements including roof repairs, new lighting, grounds updates, the installation of new HVAC systems for Subway, the Chinese Restaurant and Mr. Grill, and a significant remodel of the Mr. Grill space. The highly visible Property is strategically located at the intersection of N Joyce Street and W North Avenue, one of the region’s primary commercial corridors. The Property enjoys outstanding visibility and frontage along W North Avenue and benefits from prominent signage and two points of access along N Joyce Street. The Property sees more than 42,700 vehicles per day. The Property is surrounded by significant commercial clusters to the north and high-density residential neighborhoods to the south, both providing an instant customer base for the tenants in the plaza. The Property is 1.7-miles east of Interstate 355, 2-miles west of IL Route 83 (Kingery Highway), and approximately 2-miles from the Villa Park and Lombard METRA Stations. Villa Park is located in DuPage County, approximately 19 miles from Chicago. DuPage County is the second largest in Illinois (behind Cook County) and one of the most affluent in the state.
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.