Inland Real Estate Buys Mokena Marketplace For $13.7 Mln

(RTTNews) - Inland Real Estate Corp. (IRC) said Monday that it has acquired Mokena Marketplace in Mokena, Ill., an affluent suburb located within the Chicago Metropolitan Statistical Area, for $13.7 million in cash.

The Mokena Marketplace acquisition includes about 49,000 square feet of retail space that is 76% leased to PetSmart, Party City, Sally Beauty, and Lee Nails, plus a free-standing Chase Bank on a ground lease and five developable outlots.

Mokena Marketplace is located about 30 miles southwest of downtown Chicago in the Mokena/Frankfort/New Lenox regional submarket, along the busy U.S. Route 30 retail corridor.