Chicago & Midwest + Greater Chicagoland + Retail | November 13, 2018

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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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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