The Inland Private Capital Corporation (IPC) has successfully completed the sale of a retail property in Downers Grove, Illinois. This southwest suburb of Chicago is known for its thriving retail market and IPC, through its subsidiary acting as asset manager, facilitated the transaction on behalf of one of their 1031 investment programs.
Situated at 1432-1434 Butterfield Road, this property boasts a total area of 62,860 square feet with Best Buy occupying 62% and Golf Galaxy occupying the remaining space. The sale resulted in an impressive equity multiple to investors at a rate of 1.75 based on their initial capital investments.
According to Keith Lampi, president and CEO of IPC: “We acquired this property back in 2013 and with our proactive approach to asset management we were able to generate consistent annual cash flow along with profitable returns upon selling it.” Investors can expect an internal rate return (IRR) averaging at around six percent from this deal alone.
This recent success further solidifies IPC’s position as leaders within Chicago’s retail-focused DST sector without mentioning any specific brands or names associated with them.
