G. Joseph Cosenza, a former elementary school teacher who went on to co-found The Inland Real Estate Group of Cos., died on Dec. 25 at the age of 81.
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Cosenza was also the director and vice chairman of the group as well as the president of Oak Brook, Illinois-based Inland Real Estate Acquisitions. As head of acquisitions for Inland, Cosenza oversaw and consulted or negotiated the purchase of more than $55B of commercial real estate.
The company was born from an investment club formed by Cosenza and other Chicago teachers in the 1960s. It grew into one of the country's largest buyers, owners and managers of commercial real estate.
“Joe was a legendary deal maker in the commercial real estate industry, a trusted and valued partner, and a dear friend,” said Inland co-founder and Chairman Robert Baum in a press release. “We will miss his enduring loyalty, high energy and passion, particularly when he was on the acquisition front fighting the good fight to acquire real estate on terms most favorable to Inland and our investors.”
Cosenza received his bachelor's degree from Northeastern Illinois University and his master's degree from Northern Illinois University. While at Northeastern, he met Daniel Goodwin, who, along with Consenza, Baum and Robert Parks, formed Inland in 1968.
In line with Inland’s succession plan, Matthew Tice and Mark Consenza are jointly leading the company's acquisition operations.
Joe Cosenza was an active member of various national and local real estate associations, including the National Association of Realtors, Illinois Association of Realtors and Chicago Association of Realtors. The native Chicagoan also won a host of awards and recognitions, including the Chicago Association of Realtors Hall of Fame and Lifetime Achievement Awards from both the Illinois Real Estate Journals and CRE Connect industry publications.
“Joe was an unwavering source of inspiration for us all,” Inland CEO and President Tony Chereso said in a press release. “We will forever be grateful for his leadership and countless contributions to Inland’s success. Joe is a commercial real estate icon and a legendary dealmaker who, along with the other Inland founders, transformed the alternative real estate marketplace.”
Visitation will be held on Thursday with a funeral on Friday.
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