Inland Real Estate Brokerage & Consulting, Inc., Closes on Kankakee Office & Retail for Redevelopment
Oakbrook, Ill. – Inland Real Estate Brokerage and Consulting, Inc. announced the sale of Meadowview Center located in Kankakee, Ill., for $535,000. Adjacent to Meadowview Shopping Center and Bishop McNamara High School, the 4.12 acre property includes 60,639 SF of unoccupied offices and stores that was sold for land value at $130,000 per acre and will be razed for redevelopment and expansion for a Classic Cinemas movie theater. Paul Rogers, president, Eric Spiess, vice president and Paul Montes, vice president represented the seller, The Diocese of Joliet. The Meadowview property is one of an original 35 property portfolio that Inland has been exclusively engaged by the Diocese to market. “Approximately 30% of the real estate portfolio has been sold to date with many prime development properties still available", said Rogers.
About Inland Real Estate Brokerage and Consulting, Inc..
Inland Real Estate Brokerage & Consulting, Inc. is a boutique brokerage, appraisal and consulting firm providing real estate solutions with sales/leasing, exchanges and valuation & advisory services for private, public and institutional owners and managers of commercial and investment real estate. In recent years, we have accomplished more than $1.3 billion in sales and leases including 8,700 multi-family apartments and 140 million square-feet of CRE. Distinguished property owners and institutions throughout the U.S., Canada and the Caribbean have retained Inland's advisory and brokerage services for the acquisition and disposition of commercial real estate. As a member of The Inland Real Estate Group of Companies, Inc., we collaborate with other Inland member companies, sharing market intelligence and expertise, creating an alliance with unmatched local, regional and national presence backed by the reach and resources of a real estate powerhouse.