Inland Real Estate Corp. Acquires Illinois Shopping Center for $13.7 Million

Mokena, Ill. – The center is 76 percent leased.

Mokena, Ill. – Inland Real Estate Corp. has acquired Mokena Marketplace, a 49,000-square-foot shopping center, for $13.7 million. The acquisition of Mokena Marketplace, located approximately 30 miles southwest of Chicago, includes retail space that is 76 percent leased to PetSmart, Party City, Sally Beauty Supply and Lee Nails; a freestanding Chase Bank on a ground lease; and five developable outparcels. The shopping center is shadow-anchored by JC Penney and a new Meijer grocery store, which is scheduled to open this summer.

 — Danielle Everson