Retail Property in Schaumburg, IL Sold for $5.1 Million

1855 West Irving Park Road, Schaumburg, IL, USA - Retail property sold for $5.1 million.

By on Nov 12, 2022
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Retail Property in Schaumburg, IL Sold for $5.1 Million

JLL, a leading commercial real estate agency, recently brokered the sale of a retail property located at 1855 West Irving Park Road in Schaumburg, Illinois. The property, which spans 13,180 square feet, was sold for a total price of $5.1 million. The sale was completed on January 1, 1970.

The retail property is situated in a prime location in Schaumburg, a suburb of Chicago. Schaumburg is known for its strong retail market, with a variety of shopping centers, restaurants, and entertainment options. The property is located on Irving Park Road, a major thoroughfare that sees high levels of traffic.

The buyer of the property was not disclosed. However, the seller was able to achieve a price of 386 per square foot, which is considered a strong price for the area. The sale price of 5.1 million indicates a high level of demand for retail properties in Schaumburg.

JLL, the agency that brokered the sale, is a global commercial real estate services firm. They have a strong presence in the Chicago market and are known for their expertise in retail properties. JLL has a track record of successful transactions in the area and was able to leverage their network to find a buyer for the property.

Overall, the sale of the retail property at 1855 West Irving Park Road in Schaumburg, IL for $5.1 million is a testament to the strength of the retail market in the area. The property’s prime location and high demand for retail space in Schaumburg contributed to the successful sale. JLL’s expertise and network were instrumental in finding a buyer for the property at a strong price.