A retail property located at 1432-1434 Butterfield Road in Downers Grove was recently sold for $14.6 million. The property spans 7.38 acres and offers a total of 101,000 square feet, resulting in a price per square foot of $145.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $14,600,000
• Buyer: John P. Albright - Alpine Income Property Trust
• Market: Downers Grove
• Asset Type: Retail
• SF: 101,000
• PPSF: $145

John P. Albright, representing Alpine Income Property Trust, acquired the fully leased retail property. Additionally, Alpine Income Property Trust initiated a $6.1 million structured investment as part of the transaction, boosting their year-to-date investment activity to $28.9 million with a 9.85% yield. Alpine also divested two net lease properties for $6.6 million, achieving a 7.04% exit cap rate and a total investment sales yield of 7.69%.