Grocery-Anchored Suburban Chicago Asset Trades for $25M
- Mar 11, 2020
The Boulder Group has facilitated the sale of a single-tenant, net-leased retail property in Kildeer, Ill. The Whole Foods-occupied asset changed hands for $24.8 million in a 1031 exchange. Randy Blankstein, president of The Boulder Group, and Jimmy Goodman, partner within the same company, assisted the seller, a local company. An East Coast-based investor purchased the 50,000-square-foot property.
Located at 20281 N. Rand Road, the asset is part of a retail complex called Kildeer Market Place and is adjacent to Kildeer Village Square, a recently completed property that features brands such as Nike, Nordstrom Rack, Sierra Trading and DSW. Additionally, the building is in a dominant retail corridor that also features Apple, Anthropologie and Pottery Barn, among others. According to The Boulder Group, there are roughly 200,000 people living within 5 miles of the asset, with an average household income of $129,011.
The Boulder Group has been very active since the beginning of the year. Most recently, the same brokers arranged the $5.9 million sale of a 20,000-square-foot retail building in Sherman, Texas. In January, the team also closed the sale of a single-tenant CVS property in Bridgeport, Conn.