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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.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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