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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Standalone Jewel-Osco Changes Hands in Affluent Suburb

A single-tenant net leased Jewel-Osco property at 199 Brook Forest Ave. in the affluent Chicago suburb of Shorewood, IL has traded for $13.15 million. The Boulder Group’s Randy Blankstein and Jimmy Goodman represented the seller, a Southwest-based private investment company.

The property’s new owner, a California-based investor who acquired it in a 1031 exchange, now has a 66,437-square-foot, standalone Jewel supermarket strategically located at the signalized intersection of Brook Forest Avenue and Jefferson Street in Shorewood. The intersection experiences a combined traffic count of 52,800 vehicles per day.

There are over 55,000 people living within a three-mile radius of the property, with average annual household incomes of $100,648 per year.

“The market for standalone grocery properties remains active due to their built-in customer base,” said Blankstein.


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Inside The Story

Connect With Boulder Group's Blankstein and Goodman

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).

  • ◦Sale/Acquisition
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