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Inland Chicago Retail-Focused DST Sells Suburban Retail Property
Inland Private Capital Corporation (IPC) closed the sale of a retail property in Downers Grove, Illinois, a southwest suburb of Chicago, through its subsidiary. The subsidiary, which serves as asset manager, facilitated the sale of the property on behalf of Downers Grove Retail DST, one of IPC’s 1031 investment programs.
Located at 1432-1434 Butterfield Road, the property includes a 62,860-square-foot space leased to Best Buy and 38,297-square-foot leased to Golf Galaxy. The sale resulted in an equity multiple to investors of 1.75 (calculations are based on the aggregate amount of original capital invested in the property).
“We purchased the property in 2013, and through proactive asset management, the property generated annual cash flow, plus a profit on the sale, resulting in a 6.27 percent internal rate of return to investors,” said Keith Lampi, president and chief executive officer of IPC.
