Oak Brook, Ill. – Inland Private Capital Corporation (“IPC”), an industry leading real estate investment manager, today announced the sale of a retail property currently leased to Best Buy and Golf Galaxy in Downers Grove, Illinois, a southwest suburb of Chicago. IPC, through its subsidiary which 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.
“We purchased the property in 2013, and through proactive asset management, the property generated annual cash flow, plus a profit on sale, resulting in a 6.27 percent internal rate of return to investors,” said Keith Lampi, president and chief executive officer of IPC.
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.
IPC specializes in offering multiple-owner, tax-focused, private placement investments including Qualified Opportunity Zone investments throughout the U.S. Since inception, IPC has monetized more than $4.7 billion in full-cycle transactions on behalf of its investors. Currently, IPC manages a diverse portfolio of more than $12.2 billion across several asset classes spanning 43 states.
About Inland Private Capital Corporation
Inland Private Capital Corporation (IPC), headquartered in Oak Brook, IL, is a member company of The Inland Real Estate Group of Companies, Inc., an industry-leading alternative investment management firm, with an investment focus spanning across a broad range of asset types. As of March 31, 2024, the firm had sponsored 315 private placement real estate offerings, with investments and developments in the multifamily, self-storage, hospitality, healthcare, student housing, retail, corporate office, senior living, and industrial sectors. Many of IPC’s offerings have been designed for investors seeking replacement property to complete an IRS Section 1031 exchange. IPC is recognized as a leading provider of securitized 1031 exchange opportunities, with assets under management (AUM) of more than $12.2 billion, which includes a diverse national footprint of properties, spanning 43 states across various sectors. Past performance is not indicative of future performance.