Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a childcare and education property located at 98 Yorktown Mall Road in Lombard, Illinois. The 16,216-square-foot early education property sold for $9.2 million. The property is currently leased to The Gardner School, an academically focused early childhood education center for ages six weeks to five years with locations across seven states. BJ Feller of Northmarq represented the buyer, a local private investor. The seller was a Tulsa, Oklahoma-based investor.
“This property represented an excellent chance for a long-standing repeat client of our team to add another well-positioned and strong performing childcare asset to their portfolio as part of their tax deferred exchange,” said Feller, Managing Director and Partner in Northmarq’s Chicago, Illinois office. “The Gardner School is one of the premier up-and-coming childcare operators across the United States, and this location in the western suburbs of Chicago is perfectly situated to thrive for years to come.”
The newly built school is situated on 1.43 acres in the quiet, family-friendly suburban community. The property is one of 11 locations in the Chicago area and is located near the Yorktown Center shopping district, convenient for families who live and work in DuPage County. The education center features spacious classrooms, indoor and outdoor play areas as well as significant security features.