Chicago — Lombard center’s been privately owned since ’68.
Chicago — Kohlberg Kravis Roberts & Co. L.P., together with its affiliates KKR, in partnership with YTC Retail, has purchased the Yorktown Center Mall for $196 million from a consortium of individuals, including Bob Long, son in law of Ed Pehrson, the developer who built the mall in 1968.
The 1.5 million-square-foot mall is in Lombard, about 20 miles from Chicago. The super-regional mall collects $280 million in annual revenue. Its retailers include The Capital Grille restaurant, AMC Theatres, Gap, American Eagle Outfitters, and department stores JC Penney, Carson Pirie Scott and Von Maur. YTC Pacific, a partnership between Pacific Retail Capital Partners, Collarmele Partners and Peter Fair will manage the day-to-day operations of Yorktown. The group is also a co-investor. Physical upgrades are planned, including lighting, signage, food court and entrance improvements. Yorktown has been under private ownership since it opened.