Chicago-area Mall Sold for $196 Million

According to, suburban Chicago shopping mall The Yorktown Center was recently sold for $196 million. Located in Lombard, Illinois, the mall was once the largest mall in the country, and despite undergoing many changes since its opening in 1968, remains a popular Chicago-area shopping destination. The property was sold by the family of Ed Pehrson, who built the mall. It was purchased by two investment companies – Kohlberg Kravis Roberts & Co. LP out of New York City, and YTC Pacific from El Segundo, California.

The Yorktown Center includes a 500-room Westin hotel, several restaurants, and a revamped Shops on Butterfield lifestyle center. Other popular tenants include Victoria’s Secret, JCPenney, American Eagle, the Gap, and AMC Theaters.

Chicago-area Mall Sold for $196 MillionThe new owners are planning for numerous improvements, including upgrading the  lighting, signage, entrances and food court. Ralph Rosenberg, a member of Kohlberg Kravis Roberts & Co. LLP said that their long-term goals for the Chicago property include improving the tenant and merchandising mix, ultimately benefiting the local community and economy.

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