A 66,037 square foot shopping center located in Park Ridge, Illinois. The property is comprised of two single story buildings with storefronts facing Busse Highway and Northwest Highway. Acquired in 2017, the property was built in 1960 and renovated several times. Current tenants include Talbot’s, FedEx Kinkos, BMO Harris, Subway and Weight Watchers. The affluent suburb of Park Ridge is located approximately 15 miles northwest of downtown Chicago and 2 miles east of O’Hare Airport. There is convenient highway access to the property via I-294 (Tri-State Tollway) and I-90 (Kennedy Expressway).
Village Green was acquired in a sale directly from the lender, who was a passive owner of the center. The investment strategy is to complete deferred maintenance at the property and offer attractive rents for vacant anchor and shop spaces.