Midwestern University Acquires Former Fry's Electronics Store In Downers Grove For $24.5M

A former Fry's Electronics store located at 3300 Finley Road in Downers Grove, Illinois, has been sold for $24.5 million. The buyer, Kathy Goeppinger of Midwestern University, intends to repurpose the property into a teaching veterinary clinic. This transaction marks the first disposition from Sterling Organization's $225 million consumer logistics fund, which aims to convert vacant retail properties. The sale price equates to approximately $161 per square foot for the 152,000 square feet space.

Summary of transaction details

• Property Type: Retail
• Sale Price: $24,500,000
• Address: 3300 Finley Road
• Market: Downers Grove

The seller, Brian Kosoy of Sterling Organization, facilitated the deal with the assistance of brokers Dominic Carbonari, Kate Coxworth, Kris Bjornson, and Sam Brashler from JLL. The sale of this property to Midwestern University aligns with Sterling Organization's strategy to repurpose vacant retail spaces into new ventures. This particular sale demonstrates the potential for adaptive reuse in the real estate market.