Net Leased Jewel Osco Fetches $17M in Oak Lawn
The Boulder Group recently completed the sale of a single-tenant net leased Jewel Osco in Oak Lawn, IL for $16.6 million. The firm’s Randy Blankstein and Jimmy Goodman represented the seller, a Southwest-based private real estate investment company, and the buyer, a high net worth investor from Australia.
“The market for stand-alone grocery properties remains active due to their built-in customer base,” said Blankstein. Goodman added, “Investors pay a premium for 20-year net leased assets, which are in limited supply.”
The 47,370 square-foot property sits on a 3.65-acre parcel in a densely populated residential area southwest of Chicago. There are over 168,400 people living within a three-mile radius, with average household incomes exceeding $80,500 per year.
Nearby retailers include Marshalls, Planet Fitness, Walgreens, Chase Bank, Firestone Auto Care, AutoZone, Starbucks and McDonald’s. Additionally, Advocate Christ Medical Center, part of the largest health system in Illinois, is roughly a mile away.
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