Inland Private Capital Corporation brokered the sale of a retail property leased to Best Buy and Golf Galaxy in Downers Grove, Illinois, a southwest suburb of Chicago.
IPC, through its subsidiary that serves as asset manager, facilitated the sale of the property on behalf of Downers Grove Retail DST, one of IPC’s 1031 investment programs.
The sale resulted in an equity multiple to investors of 1.75 (calculations are based on the aggregate amount of original capital invested in the property).
Located at 1432-1434 Butterfield Road, in a high traffic retail corridor viewed by approximately 48,000 vehicles per day, the property includes a 62,860-square-foot space leased to Best Buy and 38,297-square-feet leased to Golf Galaxy.
Similar to many of IPC’s previous dispositions, this transaction provided liquidity to investors, while also providing investors with the option to utilize their sales proceeds to complete a subsequent tax-deferred exchange.
