Inland Private Capital Corporation (“IPC”), an industry leading real estate investment manager, announced the sale of a retail property now leased to Best Buy and Golf Galaxy in Downers Grove, Ill., a southwest suburb of Chicago. IPC, through its subsidiary that 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 with 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
