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Family Sells Yorktown Center Mall for $196M

LOMBARD, IL-This is the first retail purchase for New York City-based KKR, which provided most of the investment funds in partnership with YTC Pacific.

By Robert Carr | Updated on April 19, 2012

LOMBARD, IL-A partnership of New York City-based Kohlberg Kravis Roberts & Co. LP and El Segundo, CA-based YTC Pacific has purchased the 1.5-million-square-foot Yorktown Center for $196 million. The seller is the family of the late Ed Pehrson, who built the massive mall in 1968.

The mall, ranked the largest mall in the United States when it opened, has been through a number of changes and redevelopments over the years, but continues to be one of the most popular retail destinations in the suburbs of Chicago. The 150 stores include AMC Theaters, JCPenney, Carson Pirie Scott, Von Maur, the Gap, Victoria’s Secret and American Eagle. There are a number of popular restaurants, and the former Montgomery Ward spot was redeveloped into the successful Shops on Butterfield lifestyle center in 2007, with tenants such as HomeGoods, Marshalls, the Sports Authority and Lucky Strike Lanes.

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