$16 Million Net Leased Jewel Osco Grocery Date November 6, 2018
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Jewel Osco property located at 4650 W 103rd Street, Oak Lawn, IL for $16,000,000.
The 47,370 square feet net leased Jewel Osco building sits on a 3.65 acre parcel in a densely populated residential area of Chicago. The property is located immediately off of the signalized intersection of 103rd Street and Cicero Avenue which experiences a combined traffic count of 66,200 vehicles per day. The property has excellent visibility and easy interchangeable access along 103rd Street. Retailers located in the immediate area include Marshalls, Planet Fitness, Walgreens, Chase Bank, Firestone Auto Care, AutoZone, Starbucks and McDonald’s. In addition, Advocate Christ Medical Center, a 749 bed hospital that sees over 100,000 patients annually and is part of the largest health system in Illinois, is located roughly one-mile from the property. There are over 168,400 people living within a three mile radius of the property with average annual household incomes in excess of $80,500 per year.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller and the buyer in the transaction. The seller is a private real estate investment company based in the southwest. The buyer is a high net worth investor from Australia.
“The market for standalone grocery properties remains active due to their built-in customer base,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Investors pay a premium for twenty year net leased assets which are in limited supply.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $5 billion of single tenant net lease real estate transactions. From 2012-2017, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.comBack