Mariano’s in Elmhurst, IL Sells for $25M

Following a less-than three-year hold, Inland Private Capital Corp. sold its Elmhurst, IL-based Mariano’s Fresh Market to private investors for $25 million. According to IPCC, investors received an annual return of more than 22.3%.

The buyer of the property at 678 N. York St. in the Chicago western suburb was Mark Beccaria of Beccaria Partners, along with some relatives, according to DuPage County records. Christian Williams and Michael Kaider with CBRE represented IPCC.

IPCC acquired the 75,922-square-foot building in October 2013 for $20.4 million. The building is leased to Mariano’s for about 17 more years. The property’s value was boosted late in 2015, when the Cincinnati-based Kroger acquired Mariano’s parent Roundy’s Supermarkets. The acquisition improved the tenant’s credit, IPCC said.