Inland Private Capital Sells in Chicago
- Sep 05, 2016
Oak Brook, Ill.—Inland Private Capital Corp. recently announced the sale of Mariano’s Fresh Market, a retail asset located at 1720 N. Milwaukee Ave. in Vernon Hills, Ill.
The 71,248-square-foot property sitting on a seven-acre lot was sold through a subsidiary of IPCC that served as asset manager, leading the marketing efforts on behalf of one of its 1031 investment programs. The building, which is located approximately 35 miles south of the Chicago Loop and is currently fully leased to Roundy’s Supermarkets, traded for $36.4 million.
“The sale of the Vernon Hills location was our second Mariano’s disposition this year, both of which resulted in a substantial return for our investors,” said Keith Lampi, president & COO of IPCC, in prepared remarks.
Image courtesy of Inland Private Capital Corp.