Retail Midwest

Inland Real Estate Brokerage & Auctions completes sale of 32.29-acre retail site in Joliet

Inland Real Estate Brokerage & Auctions Inc. has completed the sale of approximately 32.3 acres of retail development land at Joliet Crossings in Joliet for $3 million.

Inland Real Estate Brokerage & Auctions Inc. has completed the sale of approximately 32.3 acres of retail development land at Joliet Crossings in Joliet for $3 million.

Paul Rogers, president, and Heather Devermann, executive broker associate, of Inland Brokerage & Auctions, represented the seller, Wintrust Financial Corporation.

“We launched our marketing campaign and within a few days developed multiple bidders for the property,” Rogers said.

The property is located at the signalized northwest corner of Route 59 and Theodore Street in an area of big box and major national retailers. Improved and annexed with all utilities, the site is anchored by LA Fitness, which was not included in the sale.  The property offers 1,110 feet of frontage on Route 59 and 1,200 feet of frontage on Theodore Street, both of which are four-lane highways with turn lanes.

The sale was co-brokered by Tim Thanasouras of Thanasouras Commercial Properties.