Press Releases
Marcus & Millichap Announces $9.05M Sale of Jewel-Osco Property in La Grange Park, Illinois
March 27, 2025
LA GRANGE PARK, Ill., March 27, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a net-leased Jewel-Osco property in La Grange Park, Illinois for $9.05 million.
“This asset generated significant interest, with nine written offers and one of the lowest cap rates achieved for a full-service grocer in the Midwest in recent years,” said Adrian Mendoza, first vice president investments. “The long-term lease extension, exceptional operating history, and strong underlying real estate fundamentals made this an ideal fit for a 1031 exchange investor. Jewel-Osco has been a cornerstone of this community for over 60 years and is well-positioned for continued success in this dense and stable market.”
Mendoza, Sean Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a life insurance company.
The 46,637-square-foot building is located at 507 E. Woodlawn Ave., less than a mile from downtown La Grange and the La Grange Road Metra Station. Jewel-Osco has operated at the site since it was built in 1964 and recently signed a 20-year lease extension through May 2044.
“This asset generated significant interest, with nine written offers and one of the lowest cap rates achieved for a full-service grocer in the Midwest in recent years,” said Adrian Mendoza, first vice president investments. “The long-term lease extension, exceptional operating history, and strong underlying real estate fundamentals made this an ideal fit for a 1031 exchange investor. Jewel-Osco has been a cornerstone of this community for over 60 years and is well-positioned for continued success in this dense and stable market.”
Mendoza, Sean Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a life insurance company.
The 46,637-square-foot building is located at 507 E. Woodlawn Ave., less than a mile from downtown La Grange and the La Grange Road Metra Station. Jewel-Osco has operated at the site since it was built in 1964 and recently signed a 20-year lease extension through May 2044.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
