Contact Us

Jewel-Oscos Keep Bringing In Out-Of-State Investors

Want to get a jump-start on upcoming deals? Meet the major Chicago players at one of our upcoming events!

Jewel store
Stony Island Plaza in Chicago

After several years when investors couldn’t seem to get enough of the Chicago region’s Mariano’s outlets, buyers in 2019 have focused a lot of attention on Jewel-Oscos.

Woodland Hills, California-based NewMark Merrill Cos. just bought Stony Island Plaza in Chicago for $17.3M. The 160K SF retail center, anchored by a 70K SF Jewel-Osco and a 25K SF dd’s Discounts, is 10 miles south of downtown Chicago on the corner of 95th Street and Stony Island Avenue. It is about 93% occupied, according to officials from Mid-America Real Estate Corp., which brokered the deal.

Earlier this year, RREEF Property Trust, the daily net asset value REIT of Germany’s DWS Group, acquired Elston Plaza, a Jewel-Osco-anchored property at the intersection of Addison, Elston and Kedzie avenues in Chicago.

Other Jewel-Osco sales this year include 16625 West 159th St. in suburban Lockport, which a private investor bought for $13M, and another at 1660 Larking Ave. in Elgin, bought for $14.8M.

Mid-America principal Rick Drogosz was the exclusive broker in the Stony Island transaction on behalf of Des Moines, Iowa-based Principal Real Estate Investors. NewMark Merrill’s portfolio now includes more than 80 shopping centers across the U.S.

UPDATE, Sept. 27, 11 A.M. CST: This story has been updated to include the price of Stony Island Plaza.