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Chicago & Midwest  + Greater Chicagoland  + Retail  |  July 23, 2018
Paul Bubny
By: Paul Bubny

Jewel-Osco Fetches $15.5M in Palos Heights

The Boulder Group has completed the sale of a single tenant NNN Jewel-Osco property located at 12803 Harlem Ave., in the affluent suburb of Palos Heights, IL for $15.5 million.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private real estate investment company based in the Southwest. The buyer was a high net worth family partnership based in the Midwest.

The property is located near a number of retailers including Walgreens, Ace Hardware, McDonald’s, Wendy’s, The UPS Store, Jiffy Lube and national banks. It’s also within close proximity to multiple residential communities, local businesses, and schools. There are over 66,260 people living within a three-mile radius of the property, with average annual household incomes of $94,320.

“The market for standalone grocery properties remains active as investors are attracted to the superb locations these types of properties are located in,” said Blankstein, president of The Boulder Group.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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