OAK BROOK, IL—Inland Private Capital Corp. has just sold the Mariano's Fresh Market in Vernon Hills, IL, for a gross sale price of $36.4 million. IPCC facilitated the sale of the property on behalf of one of its 1031 investment programs. It was the second sale of a Mariano's handled by the company this summer. In June, IPCC facilitated the $25 million sale of the Mariano's in west suburban Elmhurst.
The popularity of Mariano's, now considered the trendiest grocer in the metro area, certainly accounts for much of the interest in the properties. But Inland officials told GlobeSt.com that the 2015 acquisition of the popular grocer's parent company Roundy's Supermarkets, Inc. by Kroger Co. had also boosted values and brought in a number of investors.
Located at 1720 N. Milwaukee Ave. in Vernon Hills, an affluent suburb about 35 miles north of Chicago, the 71,248-square-foot building sits on a total land area of about seven acres. Roundy's leases 100% of the property, which was constructed in 2011.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
