Altogether, the properties total more than 423,000 sf. George Good, EVP with CB Richard Ellis, represented both parties. "I think the five siblings of the family felt it was time to get the house in order," Good tells GlobeSt.com. The junior DiMatteo expanded the Dominick's grocery chain until it was sold to Los Angeles-based Yucaipa Cos. in 1995. Safeway purchased the firm in 1999, and the company has 81 stores. Good says the family had stayed on as landlord for some of these recently-sold properties because of sentimental value, or because they had been the developer on the site as well.

The properties include:

• A 41,090-sf Dominick's store on Green Bay Road in Evanston, built in 1990. The base lease of $11.68 per sf, below the market, runs through September 2010 with four five-year renewal options. Sources say the property sold for $6.9 million, sources say.
• A 47,723-sf Dominick's store on Willow Road in Northfield, built in 1995. The base lease of $15.78 per sf, also below the market average, runs through October 2015 and also has four five-year renewal options. The property sold for $8.4 million.
• A 28,220-sf Dominick's store on North Avenue in River Forest, built in 1959. The base lease rate of $5.85 per sf runs through April 2012, and is dramatically below market, says Good, though there's not much competition in the area. This property sold for $6.9 million. This store was the oldest operating Dominick's.
• Town Square, a 95,997-sf center anchored by a 65,946-sf Dominick's. There is one 2,100-sf space that is available in this 11-year-old center. The tenants have nine years left on their lease, again, with four five-year renewal options. This property sold for $16 million.
• Walgreen's Plaza, an 18,450-sf strip center with the namesake store and three shops on North Broadway and Glenlake Avenue in Chicago. This property's lease rate of $7.25 per sf is only a fraction of the market value, Good says, but the lease ends in October 2015. After that, Good tells GlobeSt.com that the best idea would be to demolish the 42-year-old plaza and build anew, with possibly a new Walgreens. This property sold for $2.5 million.
• Gateway Centre, a 186,334-sf center anchored by Dominick's, Bally's and Marshalls at Clark and Howard in Chicago, built in 1999 and renovated in 2004. This site, adjacent to the elevated train station, has 30,000-sf of vacant space. This property sold for $32.9 million.
• A LaSalle Bank site on Clark Street, across the street from Gateway Centre. This site sold for 1.3 million.

Good says though many of the tenants have long leases, the locations of the properties were what made this a good deal for Rreef. "They saw the intrinsic real estate value, these stores are totally infill in irreplaceable areas," he says. "Even though some are encumbered by leases, there's still leasing upsides with the Walgreens property and the Gateway Centre."